Our initial estimates for start up costs are shown in the graph below.
The funding for the project will need to come from a variety of sources, which are, to a certain extent interdependent.
The key to a successful community enterprise is widespread community involvement through share ownership. The response so far has been very encouraging and we will be making further opportunities available for people to pledge their support.
There are limited grants available now, but applications will be made. Grant funders require evidence of strong community support.
We have applied to the Community Shares Booster Programme, funded by Co-operatives UK and Power To Change. Our Expression of Interest has been accepted and we have now applied for a Development Grant. If this is successful we will apply for match funding.
We are preparing an application to Kent County Council and will be considering a Grant/loan application to the Kent Enterprise Social Loan Fund.
We are also exploring opportunities for Corporate Sponsors.
Commercial loans are also available but will be expensive and will also require evidence of strong community support.
Our current targets for raising these funds are in the table below. Inevitably these numbers will move about as new sources of funding arise:
|Community Share Offer & Match funding||£ 85,000|
|External Grants||£ 30,000|
|Corporate Sponsors||£ 15,000|
|Fund raising||£ 5,000|
|Community & External loans||£ 15,000|