**Please note that the fund is now closed.**
The Social Business Growth Fund (SBGF) supported social businesses in Wales financially to enable them to grow and create job opportunities. SBGF was part funded by the European Regional Development Fund and Welsh Government and is added to the suite of investments administered by Social Investment Cymru. Sadly, the fund has now closed.
Eligibility
Eligible areas included:
West Wales and the Valleys
Blaenau Gwent, Bridgend, Caerphilly, Carmarthenshire, Ceredigion, Conwy, Denbighshire, Gwynedd, Isle of Anglesey, Merthyr Tydfil, Neath Port Talbot, Pembrokeshire, Rhondda, Cynon Taf, Swansea, and Torfaen.
East Wales
Cardiff, Flintshire, Monmouthshire, Newport, Powys, The Vale of Glamorgan, Wrexham
How much?
The fund provided individual social businesses with investment of up to £150,000 in West Wales and the Valleys (WWV). Match funding of at least 40% was required. So, to access £150,000 of support £100,000 of additional match funding was required. The support provided is a mix of grant and repayable assistance; the more you overachieve in creating jobs the less that needs to be repaid.
In East Wales the maximum investment was £125,000 and 50% match funding was required.
The support provided was a mix of grant and repayable assistance; the more overachievement in creating jobs the less that needed to be repaid.
What’s the process for applying?
There was a two-stage application process. The first stage was an ‘Eligibility Questionnaire’ which checks eligibility. Successful organisations moved to the second stage which is the Financial Assistance Application, where the viability of your proposal is tested. Sadly, this fund is now closed.
What’s the structure?
The structure of financial assistance available is:
- 40% a traditional grant
- 60% repayable assistance (0% interest, max 5 year term)
The over-achievement of job-creation targets was rewarded by turning an element of repayable assistance into non-repayable grant.
The application process
Before completing the application an initial conversation with the Social Investment Cymru team (sic@wcva.cymru or 0300 111 0124) took place in order to determine readiness to apply.
The application process was split into two stages:
- Eligibility Questionnaire (EQ) – this determined suitability for the fund and gathered required information about your organisation
- Financial Assistance Application – organisations passing the eligibility questionnaire were asked to complete a specific application form in response to an Invitation to Apply (ITA)
Organisations wishing to submit an EQ needed to register on MAP.
