Programme inputs

Invest to Grow received £18.4m public funding. Following defrayal of this, the programme has continued to fund new projects through its recycled loan funding, whereby the initial £18.4m has been turned into £29.5m allocated to businesses due to the recycled loan payments and associated effective programme management. This demonstrates the programme’s sustainability. By winter 2023 the programme had £1.4m to allocate towards new applications and an extensive loan book that will fund future activity.

Financial Costs

The revolving nature of Invest to Grow’s loan funding has enabled the £18.4m to contribute £29.5m towards 310 individual projects.

Whilst the inclusion of grant funding has naturally meant a gradually declining balance, the programme is able to maintain itself based on its re-circulating approach, but the extent of its fiscal longevity will primarily be based on two key factors:

• The volume and value of future awards to businesses
• Accessing any additional funding sources

The programme incorporates relatively minimal running costs, being delivered by a core team of four experienced individuals.

The number of projects supported, and funding allocated to them, continues to grow at the time of writing – whereby the funding model has provided ongoing sustainability.

Income and Expenditure

From its commencement until winter 2023 Invest to Grow received £34m income and expended £30m.