Derby Enterprise Growth Fund
The DEGF scheme is closed to new applications until further notice.
Derby Enterprise Growth Fund (DEGF) is supported by the Regional Growth Fund and European Regional Development Fund. This scheme offers capital grants and loans to businesses within Derby and its Travel to Work Area (TTWA). A List of eligible postcodes is available to download. Capital grants are available to support growing businesses.
The fund aims to provide:
- the minimum level of funding necessary for a project to take place
- a maximum of 30% of the total project costs
- capital expenditure only
- job creation
- a maximum of £10,000 per new full-time equivalent job created
- a minimum grant award of £20,000 (therefore minimum total project costs approximately £67,000).
Applications are subject to a competitive process and there is no guarantee of funding being granted. The volume of requests received are as such that rewards have to be carefully prioritised at Investment Panel as well as the number of cases taken to each meeting have to be limited. Applications will therefore be assessed on a competitive basis in this regard and it may mean that your request is not successful or meet with your desired timescales for the project.
For further information on our funds, please read:
If you have any further questions, please email email@example.com.
Please note: the following projects are not likely to be considered for DEGF/D2EGF funding:
- Companies operating in sectors with a predominantly local market where this is a high risk of 'job displacement'. By job displacement we mean companies where job growth in a local company is likely to lead to job losses in others. Sectors where this tends to be an issue include retail, hospitality, recruitment, professional services and social care for example.
- Projects where costs are predominantly towards employment of new staff.
- Start-up companies with little or no trading history.
- Projects where costs are predominantly revenue-based.
Process and timescales when applying for our funding
- Expression of Interest - submit the online form and receive feedback within 10 working days.
- Full application - upload your DEGF application form and DEGF Funding Application Appendices to our online system. Please also upload a copy of your latest annual accounts. This will be reviewed by the DEGF team and prepared for the next appropriate Panel meeting, approximately four weeks after application submission.
- Panel - meetings are held bi-monthly. You will receive a verbal decision the day after the panel sit in regard to their recommendation with final approval to follow in writing. Timescales for which will be advised at the time. You will have 14 days to accept an in-principle offer.
- ID checks - once an in-principle offer has been accepted, we will need to carry out ID checks on your key directors and shareholders.
- Due diligence - following receipt of your in principle offer acceptance and ID checks, you may be required to pay for due diligence. Further information will be given at the EOI meeting. Due diligence should take a maximum of six working weeks (or less) depending on the complexity. This will include a review of your forecasts, historic accounts and project funding plan.
- Contracting - following a successful due diligence outcome, contracts will be drawn up. This should take approximately two working weeks (or less) depending on the complexity of the contract.
Please note, any funding awarded will be subject to cash flow.
Request DEGF funding
If you need to drawdown funding in line with schedule 1 of your funding agreement, please fill in the relevant form.
Other support available in Derby and Derbyshire
In addition to our fund, there is a variety of support available, both nationally and locally, to help you run your business and to overcome challenges you might face. More information can be found on the business support and advice pages.