What is the The Gainsborough Feasibility Fund?
Conservative-led West Lindsey District Council recognises that businesses need extra financial support when seeking ways to expand and create new jobs. That is why it has reallocated £150,000 from the former Gainsborough Growth Fund “Feasibility Grant” to roll out a widened scheme to help businesses pay for professional advice to give assurances on project deliverability. Grants of up to £5,000 can be awarded to businesses through the West Lindsey Feasibility Fund, subject to 50% match funding to enable the delivery of a specific development project.
The Feasibility Fund will pay up to 50% of the overall eligible cost (to a maximum of £5k) and applicants will be expected to have private match funding in place in order to apply for the grant. Funding schemes like this help give more certainty on the type of financial investment required and the funding strategy necessary to support business development prior to implementation.
Types of activities eligible for support include:
- Architectural fees to support master planning and site/building development
- Survey work undertaken by professionals in support of sites/premises development and planning
- Professional fees for feasibility work in connection with capital equipment and product development
- Other potential feasibility costs to be considered on a project by project basis
The fund will not be able to support the following:
- Salaries and fees associated with statutory consents (e.g. planning) cannot be funded as part of this offer.
- Funding will not be awarded retrospectively for costs incurred or projects/works that have already started