Revolver Fund Competition “It's Craft”

"Revolving" means automatically renewable (from the Latin ‘revolve’ - to rotate). Fund funds are provided to applicant producers on the terms of an interest-free term loan for 6 months. Recipients of financial assistance can use the loan for almost six months to create, develop and scale their business and must return the same amount without accrued interest within the specified period. Refunds are then used to fund other participants.

• In the "Startup" category, the applicant may be an existing entrepreneur or an individual, having no entrepreneurial experience, but in the field of activity must show competence in the direction, in which the application is submitted, and assumes responsibility within 1 month of signing the contract to register activity.
• In the "Scaling" category, the applicant must be a registered legal entity or an individual entrepreneur. Preference will be given to micro-entrepreneurs and craft organizations.

• Financial assistance is provided on a non-reimbursable basis on a co-financing basis, i.e. the funds provided will have to be returned to the Fund's account 6 months or earlier from the date of signing the contract in exactly the amount provided by the Fund.
• Co-financing means that the applicant must show in the application in cash its own contribution to the planned activities.
• Amounts of financial assistance for the 2025 competition: Startup category - UAH 40,000; Scaling category - UAH 50,000.
• The revolving fund does not provide revolving grants for the following areas of activity: services; trade (electronic or offline) in goods not of own production; franchise business; production that is difficult to classify as craft or handicraft.

The priority directions of the "It's Craft" Revolver Fund:

• Craft production - production in small batches with the use of manual labor, using natural raw materials and materials.
• Crafts, especially the production of goods from natural materials.
• Production methods and recipes are authentic (tied to a certain territory) or author's.
• Use of cultural features specific to your region or Ukrainian national heritage. Reflection of cultural traditions and motifs in their classical form or their modernization.
• Environmental friendliness, naturalness in production processes and the finished product.
• Preference is given to representatives of small territorial communities with a population of up to 100,000 people (optional).
• Preference will be given to those, who are able to demonstrate a well-coordinated professional team (optional).
• Preference is given to applicants who note a clear measurable social imperative, but this is not a prerequisite for participation in the competition.

Applications should be submitted by completing the form at the link. You can find the application questions, in particular, by using the application and budget templates for the "It's Craft" Revolver Fund competition.

Please note: download the templates to your computer for editing. Do not attempt to edit the template forms online!

The winning projects are selected on an open competitive basis in the following areas:

• Startup - creating your own business (only additional financing; provided that the business is registered within 6 months of carrying out activities under the project).
• Scaling - increasing the value added of products, introducing related activities or deepening the production cycle (processing, packaging, etc.).

Applications will be evaluated according to the following criteria:

• realism of the business idea and its consistency with the needs of the region;
• realistic production plan and plan to achieve a certain level of profitability of the enterprise;
• having experience in the field;
• availability of a team and/or a plan to involve specialists and workers;
• creativity, and uniqueness of business ideas.

The activity must generate a profit within 6 months sufficient to repay the financial assistance provided from the net profit of the business project. If the business is not profitable enough, or the applicant is unable to carry out activities due to unaccounted risks, or in case of force majeure, the applicant must still repay the financial support in the same amount as received, in the form of a monetary charitable contribution to the special account of "It's Craft" Charitable Organization.

The competition is implemented by the team of "It's Craft" Charitable Fund with the support of the "Regional Development Agency of the Tavriya Association of Territorial Communities" a public organization within the social component of "It's Craft" social enterprise. Financial support is provided as an interest-free loan or in the form of procurement under the budget of the application and transfer to the use of the applicant and further transfer of ownership to the applicant in case of successful implementation of the project

The winners are legally liable under the agreement concluded between them and "It's Craft" Charitable Organization on the implementation of the plan of activities, specified in the application, and finally agreed upon during the conclusion of the agreement.