Marine companies in the Falmouth area and across Cornwall have a chance to apply for substantial capital growth funding as round two of the Marine Capital Fund opens for pre-applications.

The opportunity, called the Cornwall Marine Capital Fund, has been created after the sector’s business support organisation Cornwall Marine Network (CMN) secured a £1.85million share of the Government’s Regional Growth Fund (RGF).

As a result, grants worth £50,000 and upwards are now available for marine companies seeking capital investment for projects such as purchasing new machinery, technology development, the build of new premises and bringing existing buildings back into use.

But they must first complete the online pre-application survey at: www.surveymonkey.com/s/CMCF_Round2.

The final deadline is February 1, 2015; however, the earlier businesses apply the more time it will allow for assistance with the full application process.

Paul Wickes, CEO of Cornwall Marine Network, said: “This is a rare opportunity for cash to be secured by marine companies that have a vision to expand and employ more staff. Our dedicated business support advisor is available to help companies with their application process.”

Completing the survey just requires basic information about the company, the cost of the proposed project and the jobs it might create.

The grants are for between ten per cent and 40 per cent of the total cost of projects.

CMN can also advise businesses that have expansion plans requiring grants of less than £50,000. All marine businesses are eligible to apply, including marine leisure, boat building, marine renewable energy and marine engineering companies.

For further details visit www.cornwallmarine.net or email the network’s business support advisor at marinecapitalfund@cornwallmarine.net.