CCF New Co-op Grant

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The CCF New Co-operative Grant is available to newly-registered co-operatives (i.e. grant application is within 24 months from the co-operative’s registration date). It is used to support the initial set-up costs and operating expenses for up to three years.

 

It can be used to offset expenses such as:

  • Capital expenditure - e.g. office equipment
  • Operating expenses - e.g. staff cost relating to start the co-operative
  • Other support areas - e.g. areas of expertise and support, endorsement, referral aspects of the business but will be subject to the CCF Secretariat’s approval

 

The funding quantum and caps are specified below:

 

Year Funding Quantum  Cap at 
Year 1 Up to 85% $100,000
Year 2 Up to 70%  $ 70,000
Year 3 Up to 55%  $ 40,000
  Total for 3 Years $210,000

 

 

Prerequisites and Conditions

  • The Co-operative must be registered with the Registry of Co-operative Societies.
  • The Co-operative is not receiving or has not received any other grants from CCF, government agency and/or other organisation for the same expense item.
  • Endorsement from the Co-operative’s Committee of Management indicating their support for application.
  • For goods or services above $3,000 in value, the Co-operative needs to show that it has obtained a minimum of three quotations from vendors of comparable scope.
  • Grant applications submitted are for expenses incurred not more than 12 months ago.
  • The Co-operative must not have outstanding CCF contributions or late payment penalties.
  • Grant must only be used for the Co-operative’s It cannot be used for its subsidiary (if any) that is registered as a company.
  • The Co-operative must submit the invoice and proof of payment to the vendor.
  • The Co-operative must submit a quarterly progress report on key performance indicators listed in the Grant Agreement timely. If the Co-operative is late in submitting the progress report, a penalty of $500 will be levied for the first late submission and a $1,000 penalty will be levied for each subsequent late submission. Unutilised claim for the quarter will be forfeited as rolling over to the subsequent quarter is not allowed. For this purpose, the entitled claim for each quarter will be calculated based on equal distribution of maximum grant given for the year.

 

Application

To apply, please download application form. Submit the application form together with supporting documents to:

=================

Attn: CCF Secretariat

Singapore National Co-operative Federation
510 Thomson Road
#12-02 SLF Building
Singapore 298135


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For more information, email us or contact your respective SNCF Relationship Manager.

CCF New Co op Grant

 

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Singapore National Co-operative Federation
510 Thomson Road #12-02
SLF Building, Singapore 298135
Email: [email protected]
Tel (65) 6602 0747, Fax (65) 6259 9577

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