You will have the opportunity to obtain a LEEP grant in two phases, if you have funded or are in the process of funding your business:
1- With a loan taken any time after December 1, 2018 onwards
2- With a private investment (self-financing or equity-financing) made starting January 2020 onwards
3- With funds secured for the reconstruction of your business if it was affected by the Beirut explosion
How the LEEP grant works?
We provide up to a 50% matching grant to an investment up to a ceiling of $60,000 USD (though the SME could be spending more than this). The grant works in 2 phases:
1- Essential Grant:
The first 20% match is to be spent on assets. We reimburse the SME when they provide us with quotations, receipts and proof of purchase. The SME also receives 10 sessions of business development consulting from a qualified provider to help them make the most of the investment/improve their business practices/deal with the economic crisis.
2- Advanced Grant:
The rest of the grant is conditional on job creation or retention.
* For investments below $42,000, if the SME creates/sustains 1 job for 3 months under decent working conditions, they get an additional 15% of the value of the investment, if the SME creates/sustains 2 or more, they get an additional 30%
* For investments of more than $42,000, if the SME creates/sustains 2-3 jobs for 3 months under decent working conditions, it gets an additional 15% of the value of the investment, if the SME creates/sustains 4+ jobs, it gets an additional 30%.
LEEP Business Development Sessions
As part of the essential grant, LEEP offers you ten (10) one-on-one business development sessions with one of our business advisory services partners to assist your business in kick-starting growth, in one of these 4 areas: