How do I go about applying for financial assistance?

Our application process is straightforward and can be summarised as follows:

• Step 1: The project promoter arranges to meet with our Business Advisor to discuss their project proposal in detail. If your business proposal is one that may qualify for financial assistance, you will be requested to complete an application form and provide supplementary information and documentation. Our Business Advisor will explain exactely what is required.
• Step 2: A completed application form, along with all of the necessary support documentation is then submitted by the project promoter for review by the Business Advisor.
• Step 3: Additional clarification or information may be sought by the Business Advisor.
• Step 4: The application is then submitted to the Evaluation Committee for appraisal. The Evaluation Committee comprises members of the business community, financial institutions and local authority and they usually meet every six weeks. All documents relating to the application are submitted to the Evaluation Committee one week in advance of their meeting for consideration.
• Step 5: The Evaluation Committee, at their meeting, make a written recommendation to the Board and this is considered by the Board at their meeting before a final decision on the application is agreed. The Evaluation Committee and / or the Board may deem it necessary to defer a decision pending receipt of additional information.
• Step 6: The Chief Executive informs the project promoter in writing of the Board's decision. In the case of grant approval, a formal letter of offer and terms and conditions attaching to the grant-aid will also be issued.
• Step 7: In the event of your project being deemed ineligible and/or not obtaining financial assistance from the Local Enterprise Office (LEO), you can discuss the project application and evaluation with your LEO to obtain further feedback and/or advice regarding the application. If you are not satisfied, you will be provided with written notification of the appeals process.