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Application procedure
 
The 5 steps in the application to the Faro fund:

 
 
Step 1 - Candidature and pre-selection
The candidature dossier, available here, should be completed and sent to contact@faro-um.org

ANIMA, the Project Operator, pre-selects the projects and transmits them to the Steering Committee for a decision on their further examination or not.
The selection decision is taken unanimously by the members of the Steering Committee.

Step 2 - Examination

OSEO, is responsible for examining the dossier and is empowered by the Steering Committee to call upon technical, economic and financial experts so as to validate the project, where appropriate.

Step 3 - Notification of decision

Once the dossier has been validated, OSEO sends notification of the decision to grant a subsidy to the project’s promoter.

The subsidy granted by the Fund may not exceed the ceiling of 20,000 euro, nor represent more than 50% of the total budget of the project. Certain expenses are formally excluded, namely, expenses engaged prior to the date at which the subsidy request was made, with proof provided by the postmark. Travelling and accommodation expenses are eligible to 20% of the global budget.

Step 4 - Signature of subsidy contract
A subsidy contract is signed between OSEO and the promoter of the project concerned.
After signing the contract, the project promoter receives 75% of the amount of subsidy allocated.

Step 5 - Contractual monitoring


OSEO carries out the monitoring, with the agreement of the Steering Committee, which includes the verification of the lifting of any eventual prior conditions to the granting of the aid, confirmation of the technical completion of the project and validation of the final end of project report.
The remaining 25% of the subsidy is paid once the final report has been validated.>

Those projects submitted which are not eligible or not retained by the Steering Committee will receive notification from the Operator, ANIMA Investment Network.
The projects which are rejected during the course of examination will receive notification of their rejection from OSEO.

 
 
 
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