IT'S CRAFT Revolving Fund 
"Revolving" means automatically renewable (from the Latin ‘revolve’ - to rotate). Money from the fund is provided to the applicants-producers on the terms of an interest-free term loan for 11 months. Thus, those who receive financial assistance, use the loan for almost a year to create, develop and scale activities and repay them without interest, in the amount as taken. Refunds are then used to fund other participants. The competition is held once a year in May.

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.).

Organizational and legal aspects of assistance
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. The activity must generate a profit within 11 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.
Terms of support:

  1. 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 11 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.
  2. 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 6 months of signing the contract to register activity.
  3. 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.
  4. Amounts of financial assistance for the 2024 competition: Startup category - UAH 30,000; Scaling category - UAH 40,000.
  5. Applications are accepted until May 12 every year. To submit an application, simply fill out this google form. You can read the application questions in the Template (click to download the * Word file), download the Form for creating a budget. Attention, download templates to your computer and edit, do not try to edit Templates forms online!
  6. The decision on the winners is made according to the complex indicator of priorities and evaluation criteria of the Revolving Fund This is Craft Program.

The priority directions of the Tse 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.

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.

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.

Contacts for consultations
If you have any questions about the activities of IT'S CRAFT Revolving Fund, please write to itscraftua@gmal.com, in the subject line write "Questions about IT'S CRAFT Fund".