Torfaen Investment Fund

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Torfaen Investment Fund (TIF)                             

Capital expenditure support for Torfaen based businesses 

Is my business eligible?     

All businesses within Torfaen are eligible 

How much TIF financial support can I have?               

TIF provides 50% towards eligible Capital spend with a minimum of £1,000 up to the maximum of £10,000 (excluding VAT).           

What can the TIF be used for? 

TIF can be put towards Capital expenditure only, including:                     

  • Machinery & equipment
  • IT, software & technology equipment
  • Marketing materials, such as flyers, design & branding
  • External & internal building works and alterations

 Is there any ineligible expenditure?                  

Any Expenditure already incurred BEFORE the approval offer date is ineligible. Examples of ineligible spend include: 

  • Any revenue such as wages or paying of VAT/taxes
  • Repair to existing equipment or maintenance
  • Works carried out as a statutory requirement
  • Legal & professional fees
  • Accreditations & Membership fees 

What are the application process and timescales?                       

Initially make contact with Torfaen Economy & Enterprise (see below).

This is a limited fund and all approved TIF’s must be claimed within 2 weeks of approval letter or will be automatically  cancelled. 

What documentation must I provide with the Application Form?              

  • Business Plan with 12 months cash flow/P&L forecast
  • Latest audited accounts
  • 2 comparable quotations dated within 1 month

What factors are considered in the application procedure?                 

  • Job Creation
  • Investment by Private Sector
  • Value for Money
  • Economic Impact
  • Company Policies (Environmental, Equal Opportunities)
  • Case Officer Evaluation
  • Why is financial support needed? Need to demonstrate a need for the support 

How do I make the claim?

  • To claim the TIF, a TEE officer will visit your premises to view purchases and to take copies of the receipts
  • Take serial numbers, photographs, job creation evidence
  • TIF paid direct into business bank account
  • Claims must be made by latest 31st March 2020 

TIF Enquiry Contact: 

Gaynor Wakeling:           01633 648371        gaynor.wakeling@torfaen.gov.uk