A requirement for all grants is that the applicant must show that they have “matched funding”.

Thus grants may cover anything between 10% to 75% of a project’s eligible costs, but it is a condition of application that the applicant show that they have available the balance of funding required.

There are a variety of sources for this matched funding: cashflow, retained profits, further equity, directors’ loans, bank loans and other commercial funds e.g. asset backed lending.

Although we do not ourselves specialise in these areas we have extensive connections to providers of external finance and are happy to make introductions should this be required. Utilising the BP prepared for the grant application and the supporting documents will invariably facilitate the process.

IEL Business Support Ltd, our parent organisation is able to assist in applying for finance from Business Angel and Venture Capital sources.

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