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All SFI applications are assessed against the following criteria:
The project must be undertaken within one of the Assisted Areas. If you are not sure whether or not you are in an Assisted Area, contact your nearest RDA. Do not complete an application before you are certain the proposed location of your project is in an eligible area.
Assistance for SMEs is also available in Tier 3 areas - contact your local RDA for details. The postcode finder will give an indication of the Assisted Area status.
Applicants must demonstrate that a grant is necessary to enable the project to go ahead as planned. This may be to reduce the risks associated with the project, to influence the choice of a mobile project’s location or for some other reason. There must be no prior commitment to the project otherwise there will be difficulty in establishing a need for assistance. Project appraisal must have been completed and a formal offer of assistance issued before the applicant enters into a commitment to proceed with the project.
The project must involve expenditure on fixed assets, such as property, plant and machinery. Assets can be purchased outright or by finance lease or hire-purchase terms. Some property leases may also be eligible. Certain costs of a non-recurring nature (patent rights, professional fees) may also qualify. Your project will be monitored for a minimum of five years through to completion of the investment and beyond to ensure the conditions of the offer have been met.
The project must create new jobs or safeguard existing employment if you are seeking support of £100,000 or more. The more your project increases skills and involves investment in the skills base, the more value will be placed on this criterion when considering support.
Your project should be viable and help your business become more competitive. The project will normally be expected to become profitable within three years.
It is intended that the majority of support should be focused on high-quality, innovative, knowledge-based projects that provide skilled jobs. Apart from a small proportion of cases that have significant employment benefits, the emphasis is on raising productivity and improvement in the skills base.
Your project should contribute positive benefits to both the regional and national economy.
The greater part of the funding for the project should be met by the applicant or come from other sources in the private sector eg bank borrowings, lease finance, equity and loan finance. Additional public sector assistance may be available but may have to be cumulated with the SFI grant to ensure the total value of aid for the project complies with European Commision regional aid limits.