How grant disbursement works after approval

Approval of an application is an important step, but the grant is not paid out straight away. In most programmes, the business first carries out the investment, pays the expenses and then receives the grant after an audit. Good organisation at this stage determines how quickly payment is made.

Some programmes provide an advance payment, usually against a bank guarantee. Others allow interim payment requests once part of the project has been completed. The terms are set out in the programme guide and the approval decision.

Every expense must be supported by an invoice and proof of payment through a bank account. The figures must match the approved budget. Changes to suppliers or types of equipment usually require a modification request before they are made. Keeping an organised file with all supporting documents from day one makes the audit much easier. 

Once the project is complete, the business submits a verification request. An administrative check of the documents follows, often together with an on-site visit to confirm that the investment was made as approved. When the audit is completed with no shortcomings, the payment decision is issued. If shortcomings are found, additional documents are requested, which delays payment. 

Many programmes set obligations for a period after completion, such as keeping jobs or equipment in place. Meeting them is essential to avoid being asked to return part of the grant. There are usually publicity obligations as well, such as displaying a poster or plaque about the funding. 

Entec Consultants continues to support businesses after approval, with modification requests, expense documentation and audits, aiming for the fastest possible absorption of funds.