Capital Funding through The Growth Fund Tuesday 16 November 2021 Support is available for businesses looking to expand or establish new operations in South Tyneside. The Growth Fund is a £4.5m programme of investment part-funded by ERDF that supports SME growth. You could be eligible for a grant of up to 30% of expenditure, if you are a small or medium size business and planning capital investment of at least £134,000.What types of expenditure are eligible?Eligible expenditure may include any of the following items:Land and buildings (land costs cannot exceed 10% of the total eligible investment cost, and professional fees should not exceed 12.5% of the total eligible works cost).Premises lease costs.Premises fit-out costs.Plant, machinery and other capital equipment.Revenue costs directly associated with a capital investment, where eligible under ERDF rules (e.g. professional fees, installation costs etc.)The minimum grant that may be applied for is £40,000 and the maximum will normally be £200,000, unless the applicant can demonstrate that the project would create exceptional impact. For more information on eligibility visit The Growth Fund website.