Solent Building Back Greener Loan Fund

The Solent Building Back Greener Loan Fund, totalling £5million, is now open for applications for loan funding of between £100,000 and £1,00,000.

 

Eligibility Criteria

Below you can find the eligibility criteria you must meet in order to apply for this loan fund.

  • Be located in the Solent Local Enterprise Partnership area

  • Be a UK domiciled company

  • Must demonstrably contribute to delivering Net Zero

  • Deliver economic outputs in the Solent Local Enterprise Partnership area

  • Be seeking loan funding of no less than £100,000 and no more than £1m (up to a maximum of 50% of total project costs)

  • Will commence delivery on site by the end of September 2022 (projects that can start sooner may be prioritised)

  • Demonstrate the ability to pay back the loan funding in no more than 36 months

  • Be able to offer security to underwrite the full value of the loan at the cost of the bidding organisation

Applications are invited from:

  • Private sector businesses incorporated in the UK that are located in the Solent area

  • Further Education colleges and Universities located in the Solent area

  • Social enterprises located in the Solent area

 

The deadline for applications is 14 January 2021.

Bidding prospectus and supporting documents which need to be completed as part of your application can be found below

A free support tool for businesses developing HMT Green Book Business Cases is available here. Please note, this resource was developed in 2018, and applicants are advised to check here for full guidance.

Supporting Webinars

Please register your interest below.

We will be running two webinars to introduce the loan fund, explain the requirements and the application process, and answer any questions applicants may have. 

Solent Building Back Greener Loan Fund Timeline

Below you can see each stage of the application process from launch to loan offer

18 November 2021

Launch Date

24th November 2021 12.30 - 13.30 PM

Introductory Webinar

1st December 2021 12.00 - 13.00 PM

Introductory Webinar

January-February 2022 Dates to be confirmed

Due Diligence

Independent expert due diligence and financial due diligence of applications. Please note, applicants may be required to respond to clarification questions and provide additional evidence

February-March, 2022 Dates to be confirmed

Applications to be considered

LEP Board or LEP Funding, Finance and Performance Management Group (FFPMG) meets to consider applications

February-March, 2022 Dates to be confirmed

Outcome of application

Outcome of application reported within five working days of LEP Board or LEP Funding, Finance and Performance Management Group (FFPMG) meeting (please note, any unsuccessful applications will be offered a feedback call)

March 2022 Dates to be confirmed

In-principle loan offered

It is expected that successful applications will be provided with an in-principle loan offer

14 January 2021

Deadline for Applications

Deadline for submitting applications is 23.59PM on Friday 14th January to pipeline@solentlep.org.uk

Submitting your application

You need to submit your Business Case and supporting documents such as the Finance Annex and Declaration to pipeline@solentlep.org.uk

Building Back Greener Loan Fund

Want to hear all about the new Loan Funding? Join our live webinar this Wednesday 24 November.

Find out more