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Ceredigion Social Enterprise Growth Fund - Capital funding opportunity

Due to decommitment from past awards, The Ceredigion Social Enterprise Growth Fund has £17,500 of capital grant to allocate to eligible Social Enterprises that have not previously received grant funding through CSEGF

WG EU LogoApplications are invited for capital only schemes at a maximum intervention rate of 75%. A minimum of 25% match funding must be in the form of cash which can be from the applicants own funds or other non-eu grants. Applications, in the form of an application form, cost spreadsheet and brief business plan with cash-flow forecast, must be received in hard copy and electronically by midday on 23rd April 2014.

Applications will be assessed in early May 2014, with successful applicants notified by the middle of May.

The final completion date for all project activity will be 15th August 2014. This means that all expenditure must be completed by this date.

Grant guidelines can be downloaded using the link opposite.

Application forms and further support and advice are available from the Project Officer Maria Wilding, on 01545 57415 - maria.wilding@ceredigion.gov.uk, or Gareth Rowlands, on 01545 572065 – gareth.rowlands@ceredigion.gov.uk

Preference will be given to proposals that can clearly demonstrate how the investment drives the Social Enterprise towards financial sustainability.

Ceredigion Social Enterprise Growth Fund

A grant scheme operating in Ceredigion designed to enable social enterprises to expand their trading activity, create permanent jobs and help ensure the sustainability of their organisation in the long term.

The fund has £1.35M to distribute over a four year period. Awards are likely to be between £30k and £125k, but there are no set limits and all projects that demonstrate significant impact and results in terms of the aims of the scheme will be considered. Eligible activities are likely to be capital focused but can have a supporting revenue element.

The grant is discretionary and is administered by Ceredigion County Council on behalf of the Adfywio Ceredigion Regeneration Partnership. It is funded by the European Regional Development Fund (ERDF), and by Ceredigion County Council, and is part of the Convergence programme in West Wales and the Valleys.

The grants will operate on a rolling programme. Applications will be assessed by a grants panel meeting on a monthly/bimonthly basis as the need arises.

Applications should take four to five weeks from the date of the assessment panel to final approval.

We are looking for proposals from new and existing Social Enterprises that:

  • Move the enterprise towards or into long term sustainability through increased trading capacity or a reduction in operating costs
  • Demonstrate a community need for services
  • Demonstrate detailed financial planning and a robust business proposal
  • Lead to the creation of permanent jobs within Ceredigion that will be continued after funding has ceased
  • Contribute to climate change mitigation
  • Integrate into other initiatives such as Communities First or emanting from the Strategic Area Designation 
  • Generate non public sector cash investment during the lifetime of the project

To be eligible a social enterprise should be a not for profit legal trading entity that is community owned.

The above information is intended as a guide only, please contact us to arrange a meeting or discuss whether your project is eligible.

Maria Wilding, Project Officer,

European and Community Regeneration Unit

Ceredigion County Council

Penmorfa, Aberaeron SA46 0PA.

Email: mariaw@ceredigion.gov.uk

Tel: 01545 574159