Ready to Borrow Small Capital Grants Scheme
We are delighted to be launching a new round of ACE funding for small scale capital projects in the South East on 6th July 2017.
The South East Region has been delegated a further £210,000 in this third round of funding.
Applications will open for Accredited Museums on the 6th July 2017, the deadline for submitting applications is the 6th September 2017.
It is reccomended that museums who wish to apply do the following prior to making an application:
- Read the guidance notes below (Appendix 1)
- Speak with their Museum Development Officer about their project
- Attend one of the TEG Preparing to Borrow training sessions (next available 9th October 2017, London, spaces limited)
What is the Ready to Borrow Grant Scheme?
The Ready to Borrow Capital Grant Scheme aims to deliver:
• An increase in the number of Accredited non-national museums able to take loans from National museums or Major partner museums
• An improvement in the infrastructure and capacity of the SE region to manage significant and strategic loans
Your Museum doesn’t need to have a specific loan item in mind from a national museum or major partner museum; nor is obtaining or applying for GIS an essential criteria to securing a small grant. This funding is intended to support capital improvements which enable a museum to develop its loans programme in the future; and which adds to the infrastructure of the region.
Priorities and Key Requirements
- Museums can apply for capital grants up to a maximum of £50,000
- Museums must be working within the Arts Council England Accreditation Scheme.
- Preference will be given to museums who have not had a loan from a National or Major partner museum before or been able to meet the requirements of GIS (this includes museums in receipt of Small Capital Grant Funding)
- Museums must be able to capitalise the related capital expenditure on their balance sheet
- Grants must be committed by 31st March 2018. Activities must have started before 31st March 2018 and any funds committed need to be spent and capitalised by 31 March 2019
- All receipts/evidence of expenditure and case study material must be provided to SE Museum Development Programme by March 2019
- Environmental impact must be a criterion in decision making, with preference given to lower carbon impact proposals. Museums should demonstrate in their application what the environmental impact will be
- Grant recipients must provide a minimum of 10% match funding in cash or in kind support
The application form will be made available here from the 6th July 2017.