All companies supported will have high growth potential and will range from early stage commercialisation through to more established revenue generating enterprises.
Potential applicants must first meet the eligibility criteria of the relevant ‘Primary Loan Fund’ and must make an application to that Fund.
Any loans approved by the South East Sustainability Loan Fund (SESLF) will be made on a ‘pari-passu’ basis with the respective Primary Loan Fund. Terms and conditions will be identical and the SESLF will require successful applicants to provide any security on the same basis as the Primary Loan Fund.
There are no specific carbon reduction targets that each applicant must achieve, with proposals for funding being evaluated against the Fund’s overall ecological objectives.
The SESLF will undertake technical due diligence to validate applicants technology / products against the Fund’s ecological objectives. This may require the production of a brief report from an independent consultant at the applicant’s cost.
ERDF Co-Financing Statement
The Department for Communities and Local Government (DCLG) manages the South East ERDF Competitiveness Programme 2007-13 on behalf of the region. The ERDF has allocated £15.2 million (€23.706) to the South East over the period 2007-13. The total value of the programme is €47.412m (£30.4m) running from 2007 to 2013. The aim of the programme is to promote competitiveness and sustainability to stimulate innovation and encourage efficient business practice whilst reducing the region’s ecological footprint. The SESLF has been co-financed by the European Regional Development Fund and has been selected under the above operational programme.