The trustees will endeavour to deal with applications as speedily as practicable. The founders were frustrated throughout their business lives by delays when applying for expansion loans or grants. Often the opportunity is fleeting or transient and needs to be grasped early.
Normally not more than 20% of the trust funds available at the time of the application will be granted for any one application, but the actual level of grant in return for the stake will be assessed and negotiated directly with the applicant.
In some circumstances loans may be appropriate and these will be on a commercial basis but at a rate normally well below that demanded by a bank or other financial institution.
Applications must be on the appropriate form but may be accompanied by whatever extra material the applicant feels will give the Trustees a better understanding of the business or project. A formal business plan is not required but may well be very helpful to the Trustees who will be striving to understand what the grant is required for and how it will help the business develop and become more profitable.