Applying for funding from the LEAP is a straightforward process and we are here to help you. We anticipate that the process will typically take between 4 and 12 months.
1 Register Interest
Register your interest in LEAP here. We’ll ask for some basic details about you and your organisation.
After we have reviewed this information, we will contact you to discuss your plans and requirements and whether social investment is right for you.
3. Full application
If eligible, you will be asked to make a full application where we ask for more information about you and your business. We will be on hand to help you with your application and answer any questions you may have.
We will review your application, collect additional information where necessary and decide whether to progress your application to the next stage. Successful applications will then be presented to our Investment Committee.
5. Diagnostic and development of investment readiness plan
If approved by the Investment Committee, we will arrange to visit your site to carry out a diagnostic with you and develop an ‘investment readiness’ plan. This will clearly set out what needs to happen before your organisation is investment ready. At this point we will also agree with you some level of match funding to be raised by you. This could be community shares, crowdfunding, or some other form which proves how your community is engaged with your work. If you have raised community finance in the recent past it may be possible for you to put this forward as your match funding. We are flexible as to the level of match funding required but anticipate that it will be at least 20% of the loan amount. In exceptional circumstances grants may be considered for match funding or some other form of challenge which demonstrates your community of support may be agreed.
We will recommend mentors for you depending on the content of your investment readiness plan. Mentors will be provided at no cost to your organisation. Depending on your situation and how much work needs to be completed to become investment ready, the mentoring programme will typically run for between 3 and 12 months.
7. Due diligence
We will then return for a second site visit to complete final checks and due diligence. At this point we should be able to confirm terms and will present the proposal to our Investment Committee for final approval.
8. Draw down
We will then sign the agreement and you will be able to draw down the loan and grant. The application fee will be taken at this point.
9. Monitoring and reporting
We will ask for simple financial reports every quarter, and an annual social impact report. We will support you where we can and will visit you again after 12-18 months to check on progress and identify any areas where additional support is needed.
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