Conditions and Requirements

To secure finance at any of the project stages will require evidence to be provided that the project is worth supporting financially and that the organisation taking the funding is competent and fit for purpose. These requirements will vary but the main requirements are shown below:

Requirement/condition

Evidence

That the organisation or proposed organisation is capable of implementing the project and has the power to do so.

  • Governing documents (Memorandum and Articles or rules)
  • Track record

That the organisation has the financial and administrative systems to properly account for the finance of the project

  • Project managers terms of reference
  • Skills of governing body / management committee, volunteers and staff
  • Proposals for financial administration of the project and processing of payments
  • Copies of financial procedures used by the organisation

That the project and the organisation promoting it is supported by the local community

  • Evidence of stakeholder involvement processes and local market research

That other financial support has been applied for and/or agreed

  • Evidence of other funding agreed or applied for

That the project is technically feasible

  • Professional advice on costs, design and site investigations
  • Listed building and Planning permission

The contribution that the project makes to other projects and plans in the area where the project is located

  • Evidence that other partners are involved and working to achieve common objectives

That the project can demonstrate what it has done to secure value for money

  • Evidence of processes used for selection of consultants

That measurable benefits such as the number of new jobs, amount of new workspace, number and types of building users and so on made possible by the project are documented and reported on a regular basis.

  • Beneficiaries of the project have been identified
  • How the benefits of the project have been calculated

That the project is viable and that the financial estimates and assumptions are robust

  • Detailed business plan supported by market research evidence

That the project will create a valuable asset

  • Purchase price and estimated final value from a Surveyor

That the project is of good quality in relation to design and construction and has considered environmental features that help to reduce its running costs and carbon footprint

  • Detailed design and specification

That reports and accounts on the use of the money spent can be provided.

  • Project managers terms of reference
  • Skills of governing body / management committee, staff

 

Related Resources

Requirements for Securing Finance

Table showing the main requirements/conditions for securing finance for a project, and the evidence that needs to be provided.

Microsoft Office document icon Requirements for Securing Finance