The Social Business Growth Fund (SBGF) supports social businesses in Wales financially to enable them to grow and create job opportunities. SBGF is part funded by the European Regional Development Fund and Welsh Government and is added to the suite of investments administered by Social Investment Cymru. Time to apply is running out.
Eligible areas include: Blaenau Gwent, Bridgend, Caerphilly, Carmarthenshire, Ceredigion, Conwy, Denbighshire, Gwynedd, Isle of Anglesey, Merthyr Tydfil, Neath Port Talbot, Pembrokeshire, Rhondda, Cynon Taf, Swansea, and Torfaen.
The fund can provide investment of up to £150,000 in West wales and the Valleys (WWV). Match funding of at least 40%. So, to access £150,000 of support would mean you need to provide £100,000 of additional match funding. 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.
What’s the process for applying?
There’s a two-stage application process. The first stage is an ‘Eligibility Questionnaire’ which checks your eligibility and if successful you move to the second stage which is the Financial Assistance Application, where the viability of your proposal is tested.
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 will be rewarded with turning an element of repayable assistance into non-repayable grant.
The application process
Before completing the application you’ll need to have an initial conversation with the Social Investment Cymru team (firstname.lastname@example.org or 0300 111 0124) in order to determine your readiness to apply. You can also book a one-to-one chat here.
The application process is split into two stages:
- Eligibility Questionnaire (EQ) – this determines your suitability for the fund and gathers required information about your organisation
- Financial Assistance Application – if you pass the eligibility questionnaire you will need to complete a specific application form in response to an Invitation to Apply (ITA)
Organisations that wish to submit an EQ will need to register on MAP.