Getting a Grant for Your Business

7. Grant Payments

7.1 Plan your cashflow.

• You might have to wait to be reimbursed, so you may need to make arrangements for a bridging loan.

7.2 Grant money is generally handed over according to an agreed schedule.

Payments may be made:

• In instalments, at fixed periods.
• In arrears, against proof of actual expenditure.
• With some payments up front, and the rest as you meet the stipulated requirements at each stage.For example, a payment might be conditional on the project employing a certain number of people.

7.3 Keep detailed records.

The grant-providers will want to monitor how the money is being used.

• This may involve visits to your premises, or you may have to visit them to present a report.
• There may be a final audit before you are given the last payment.