Accessing extra funding through Crowdfunder is slightly different to the traditional grant giving process. In order to apply via your project dashboard, you'll need a project set up on the Crowdfunder platform.
We also recommend that you populate the project page with as much information as possible. This helps our match funding partners to get a good feel for your idea.
IS MY PROJECT ELIGIBLE FOR EXTRA FUNDING?
It all depends on what you're doing and where you're doing it. We work with many match funding partners that span the public and private sectors. We've also partnered with regional funds, which means they have a specific set of criteria that applicants need to meet. But don't worry, there's something for everyone.
Some extra funding partners look for projects set up by social enterprises and CICs. Others look for entrepreneurs or environmental campaigns, while our local authorities like to support community groups and not-for-profit organisations.
Each partner has a particular area of interest that they ask applicants to support. This varies from improving community wellbeing to promoting sustainability, developing skills and education, or supporting young or disadvantaged people.
Please note that extra funding is not available to those crowdfunding for their own benefit. For example, a personal fundraiser would not be eligible.
CAN I APPLY FOR EXTRA FUNDING BEFORE MY PROJECT GOES LIVE?
It depends on the fund you're applying for. Most of them allow you to apply before you've gone live. However, some need to see that your project has already launched and is gaining support from the crowd.
We therefore recommend that you check the eligibility criteria for your chosen fund carefully. It's your responsibility as the project owner to make sure your campaign ticks all the right boxes in order to receive the extra funds.
Please note that if you do apply before you've gone live, the amount of information you provide could be the make or break. Extra funding partners need plenty of detail in order to decide if your project fits their criteria. Remember that videos and images always help to bring your idea to life.
HOW LONG DOES IT TAKE TO REVIEW MY EXTRA FUNDING APPLICATION?
The review process can take between one and four weeks. Due to the impact of Covid-19, the number of extra funding applications has increased dramatically. Many of our partners have therefore been inundated and are working as hard as they can to respond to project owners within this time frame.
When filling in your application form, make sure you address the key points in the fund criteria. This will help to speed up the review process. It's also a good idea to get your application in as early as possible during your crowdfunding campaign or during the campaign planning stage.
HOW MUCH EXTRA FUNDING SHOULD I APPLY FOR?
When you apply for extra funding, you don't actually choose the amount you would like to receive. Instead, the funding partner will offer a set amount, depending on whether you meet their pledge criteria or not.
For example, if your application is approved, a funding partner could pledge up to 50% of your initial target, providing that you have already raised 25% with a minimum of 25 unique supporters. When setting your initial target, please include the amount you hope to receive from the extra funding pot.
HOW LONG DOES IT TAKE TO RECEIVE MY EXTRA FUNDING?
We transfer partner pledges differently to the way we transfer the money you raise from the crowd. While the latter is transferred automatically within seven days of your project closing, all extra funds are processed via our payments partner MangoPay.
They have a number of additional due diligence checks in place, which means it can take a little longer to process the partner pledge. Part of this process requires you to set up an extra funding wallet in your project dashboard.
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