Matching Equity Requirement:
The Program grant is a 50/50 matching grant. For example, a $100,000 investment could receive up to a $50,000 matching grant from ESD.
Equity Requirement:
The Applicant will be required to contribute ten percent (10%) of the total project cost in the form of equity. Equity is defined as cash injected into the project by the Applicant or by investors and should be auditable through Applicant’s financial statements or accounts, if so requested by ESD. Equity cannot be borrowed money secured by the assets in the project or grants from a government source. In-kind donations will not be considered an acceptable form of equity.