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Selective Finance for Investment Grant

What is Selective Finance for Investment in England?

Selective Finance for Investment (SFIE) is a form of financial assistance available to businesses located in Assisted Areas in the UK for investment in capital expenditure and is run by Advantage West Midlands in our region.

Am I eligible?

Walsall is an assisted area so if you can answer yes to all the below questions then you may be eligible for the grant:

  • Are you located in an assisted area (Walsall)?
  • Does your project require SFI to make it happen, or without SFI the project would only go ahead on a smaller scale or within a longer timeframe?
  • Does your project involve capital expenditure?
  • Will your project create new jobs or safeguard existing ones which would otherwise be put at risk (note that this requirement can be waived for grants of less than £100,000)?
  • A majority of the jobs created or safeguarded by your project will require qualifications of level 2 NVQ (or equivalent) or above?
  • The project will secure increased productivity?
  • Your business is viable and can become self sustaining within a reasonable timeframe (for example, three years)?
  • The business generates regional and national benefits, in-line with the West Midlands Economic Strategy?
  • The bulk of the finance for the project will come from private sources (such as bank finance or retained earnings). SFI is the minimum amount required to enable the project to go ahead and cannot exceed certain percentages of capital expenditure (see box below)

Limits on SFI

Subject to meeting the criteria set out above, the SFI grant is negotiated to the minimum required to enable the project to proceed. In addition:

  • SFIE grants cannot be less than £10,000
  • In the Tier 3 areas, the maximum aggregate SFI grant to any one SME cannot exceed £100,000
  • % limits on SFIE grant are as follows:

Tier 2 – Birmingham, Black Country and North Staffordshire, some wards in Bromsgrove and South Staffordshire

  • Large enterprises: 15%
  • Medium sized enterprises: 25%
  • Small enterprises: 35%

I think I may be eligible

If you feel you are eligible for this grant please contact us and we will happily discuss the scheme in more detail with you either face-to-face, by email or over the telephone. Alternatively, use the useful links and documentation below to provide you additional information.

Useful links

Contact us

Economic Regeneration Team
2nd Floor, Civic Centre
Darwall Street
Walsall
WS1 1TP

Telephone 01922 653620
Email econregen@walsall.gov.uk