Pen y Cymoedd Wind Farm Community Fund is making emergency, fast-track funding available for organisations in the Fund area. There will be two strands:
- Survival Fund: to provide emergency cashflow funding for organisations at risk of closure
- Project Fund: to support additional services that meet immediate community needs
Our funding will not replace any Government support available – we will ask you to tell us what other assistance you have explored or will be receiving from all other sources, and we may signpost you to other more relevant and applicable funding support.
The application process will be as simple as we can make it and decisions will normally be made and funding released within 14 days.
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Covid 19 Survival Fund
This Fund is aimed at organisations facing short term cashflow issues or who are at risk of closure due to financial difficulties arising as a direct result of COVID 19.
While we will prioritise applications from key anchor organisations that deliver services, products and support in the area, we will also consider applications from any organisation at risk of closure.
The level of funding available for individual organisations will be assessed on the basis of need.
Awards may be in the form of a grant or interest free loan or a mix of the two, depending on individual circumstances.
You should be able to answer a firm YES to these questions:
- Our funding need is directly as a result of the impact of COVID-19 and national precautionary measures;
- We are applying for funding to help our short-term cashflow position;
- We know how much our monthly outgoings are and how much income we may lose over the next four months;
- We know how much funding we need to keep afloat for the next four months – taking account of any government or other support available and accessed by the organisation
If you would like to apply, please email enquiries@penycymoeddcic.cymru to request an application
Questions you may have:
How much detail do you need about our finances?
We will ask you to:
- Explain the financial challenges you expect or are already experiencing as a result of COVID-19
- Provide information about your current financial position including cashflow and the level of reserves held by your organisation.
- Provide supporting documentation – including annual accounts, management accounts (if you have them) and bank statements.
- Provide an approximate breakdown of your financial needs over the next 4 months – what are your income losses likely to be? What other government funding are you likely to secure to meet some of your existing costs?
What length of time will the funding cover?
This fund is designed to offer short-term support for approximately 4 months. We will review the situation regularly.
Will the funding be a grant or a loan?
Funding applications will be assessed on individual circumstances. Higher funding needs support may be in the form of a loan, or a mix of grant and loan funding.
What would the terms of the loan be?
Each loan will be agreed on a case-by-case basis. Key features:
- Up to 12 months repayment holiday in the first year
- 0% interest
- Unsecured
- No arrangement fees
- After the first 12 months, repayment options to be discussed and agreed.
Will we receive all the funding at once?
Payments will be normally made in full in advance. Larger payments and loan funds may be made in tranches – we will discuss and agree this with you.
What happens if my application is unsuccessful? Can we apply again?
We will give feedback about why the application has not been supported. If you are able to address the issues raised, or there is a change in circumstances, you are welcome to reapply.
What happens if my organisation closes despite this support? Will we need to return the funds?
You will only be asked to return funds that you have been unable to spend before your organisation/business closes. We will ask you to get in touch with us as soon as you feel that this is your only course of action.
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Covid 19 Project Fund – essential community services
This Fund aims to support the provision of additional or innovative services to meet immediate community needs.
We will consider applications from any organisation who can provide an appropriate community service. Grants of up to £15,000 will be available for individual projects.
You should be able to answer a firm YES to these questions:
- The funding is needed directly as a result of the impact of COVID-19 and national precautionary measures;
- The planned project will deliver additional or new essential community services to address immediate community needs;
- We are an existing constituted organisation with identified resources and capacity
If you would like to apply, please email enquiries@penycymoeddcic.cymru to request an application
Questions you may have:
How much detail do you need about our project?
You will need to explain clearly what the project will deliver and what difference it will make to the community. We will also need to understand how and where the project will be delivered, who will do it, and when. The application form will cover all this.
How much details do you need about our organisation finances?
We will need a breakdown of project costs and quotes as necessary. We will also need copies of your recent accounts and bank statements.
Will the funding be a grant or a loan?
Project funding will be awarded as a grant
Will we receive all the funding at once?
Payments will be normally made in full in advance.
What happens if my application is unsuccessful? Can we apply again?
We will give feedback about why the application has not been supported. If you are able to address the issues raised, or there is a change is circumstances, you are welcome to reapply.