kcc innovation loan fund i3
TRANSCRIPT
Innovation Investment Loan (i3)Jacqui WardAshford International 21 July 2016
GPF - i3 – December 2015 - Pilot
• SELEP – Local Growth Fund
• Priority Sectors
• Loan values £20k/£250k
• Measurable outputs
• Private sector leverage
• Jobs created and safeguarded
• Changes applied• 3% administration fee
GPF - i3 Pilot – Timeframe - 4 months
• Opened: 18 December 2015
• Submitted to KCC: 15 January 2016
• Appraisal period: February 2016
• Presentation to Panel: 8 March 2016
• Contract Meetings: 7-23 March 2016
• Loan Defrayment: 13-21 April 2016 (unsecured)
00/00/2013 Your Name
GPF - i3 Pilot – Income / Successes
• Total Loan Value requested = £998,500
• Total Loan Value awarded = £838,500 (84%) (4/6=67%)
• Successes
• Reduction in Application timeframe
• Reduction in Appraisal fees
• Automated Administration features
• Repayments by monthly DD from outset
00/00/2013 Your Name
GPF - I3 – Follow-up Loan Scheme
Fund Allocation available = £1,361,500
•Type of Loan Scheme - Capital
•Area: Kent and Medway
•Eligibility:
• Existing business and start-ups
• SMEs
•Loan Values £100,000 / Maximum £500,000
00/00/2013 Your Name
GPF - I3 – Follow-up Loan Scheme• Arrangement fees
• 3% administration fee
• Annual monitoring fee for the duration of the loan
• 1% of remaining balance (decreasing)
• Security
• Security may be requested on all loans over £100,000
• All legal fees for security to be borne by applicant
00/00/2013 Your Name
GPF - I3 – Follow-up TimeframePre Applications open: 1 August 2016
Pre Applications close: 12 August 2016
Invite Full Applications: 19 August 2016
Walk through Application process: 23 and 24 August 2016
Full Applications submitted to KCC: 2 September 2016
Appraisal period – internal: 20-30 September 2016
Appraisal period – external: 3-14 October 2016
Presentation to IAB: mid October
Contract Meetings: end October 2016
Loan Defrayment: to follow
