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Close Brothers Regional Growth Fund (RGF) Asset Purchase Scheme

The Regional Growth Fund provides grants to companies to enable them to purchase an asset which will then in turn create or safeguard jobs.

 

The Regional Growth Fund will enable qualifying businesses to receive a grant towards a deposit on a new investment, of up to 20% of the value of the investment dependent on the size of the business and number of jobs being created/safeguarded.

Grants of up to a maximum of £500,000 is available dependent upon:

  • Size of business
  • Amount of investment
  • Number of full-time equivalent jobs safeguarded or created
  • Whether a business can get funding for this purchase without the Regional Growth Fund

 

Eligibility to apply:

  • Unable to finance the deposit for purchasing an asset
  • Affordability for the monthly payment for the asset
  • Business with fewer than 25 employees and turnover under £35 million
  • Through the proposed investment that the business will be creating additional jobs or safeguarding jobs which would otherwise have been lost

 

There is no deadline, but there is a limited amount of funds.

The Funding and Investment team at Essex County Council are available to provide advice and support to applicants interested in developing bids.  They can be contacted at fit@essex.gov.uk   

For more information follow this link