What is the capital grant scheme? The Low Carbon KEEP capital grant scheme allows SMEs to recoup 40% of the cost of purchasing capital items, such as essential equipment or software, which are fundamental to the success of a Low Carbon KEEP project. All capital items purchased utilising Low Carbon KEEP capital grant funding will remain in the ownership of the SME partner. Should the Low Carbon KEEP project come to a premature conclusion, the amount of the capital grant awarded will be proportionally reduced. . If you decide not to apply for capital funding at the beginning of your Low Carbon KEEP project, but change your mind afterwards, you can still apply at a later date, provided your project has not come to an end.
What is the maximum value of capital funding available? The maximum value of ERDF capital funding available to any single project is £20,000. All grant calculations and payments are made excluding VAT. The capital grant funding can be used to purchase more than one item on more than one occasion
Can you provide an example of a capital grant item which is deemed fundamental? All items deemed eligible for funding must be fundamentally linked to the project activity proposed and be directly beneficial to its delivery. For example a logistics project might legitimately propose capital expenditure on vehicle tracking devices but not on the installation of low energy lighting equipment in the SME Partner’s offices. The role of the capital items proposed must be fully explained and justified in the body of the application. All items must be procured according to ERDF regulations to be eligible for payment. The approval of proposed capital expenditure is entirely at the discretion of the programme’s assessment panel. If in any doubt as to the legitimacy of a proposed capital purchase the partnership must consult with the programme management team prior to submission of the application.
Who is responsible for payment when initially purchasing capital items? All claims to funders are made retrospectively on a quarterly basis, with the SME incurring the entire expenditure in the first instance.
When will the SME partner receive the funds from the capital grant scheme? No grant will be paid to the SME Partner before it has been successfully claimed from funders by the programme management team. This may take several months.
When can the SME partner make a capital purchase to be eligible to claim funds from the capital grant scheme? The SME Partner must be prepared to enter into a Capital Grant Agreement with the Low Carbon KEEP Programme prior to any purchases being made. No claims will be processed without a fully signed agreement in place. All items must be fully evidenced and that evidence submitted in a timely manner to be included in programme claims to the funders.
Any other useful information? All costs detailed in the application must be as accurate as possible. The monetary amounts detailed will be used to form the basis of the Capital Grant Agreement and will not be altered after approval of the project. It is strongly recommended that accurate quotes are sought from potential suppliers to achieve the required level of accuracy.
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