North Lincolnshire Council is inviting local businesses impacted by Covid-19 to apply for financial support from a new £1.7m pot of Government cash.
Aimed at small to medium-sized businesses, grants of £25,000, £10,000 or any amount up to £10,000 are available. The grants are only open to companies that have not received funding through previous schemes aimed at helping businesses during the pandemic.
The fund is aimed mainly at businesses with a rateable value or mortgage/rent payments below £51,000 and a turnover of less than £10.2m per annum, although there is some flexibility.
Cllr Rob Waltham, Leader of North Lincolnshire Council, said:
“Previous Government grant schemes have provided a lifeline for many local businesses. The council has processed millions of pounds of grant funding to support the local economy. But we know that some in need of support haven’t been eligible for the previous grants. The Government has recognised this and this new discretionary grant scheme will provide support to many of these – including those such as market traders, small businesses in shared offices, bed and breakfasts and charity properties.
“The council continues to work closely with the Government and all our local businesses to protect jobs and the local economy. This latest grant will enable us to offer support to even more businesses in our area.”
Applications will be open from 1 June until 12 June and decisions on the grants will be made by the end of June.
The payments are means-tested and businesses will be assessed on the impact they have faced, ongoing fixed overheads, economic value to the region, sector, number of jobs being safeguarded and financial viability prior to COVID-19.
They will have to provide supporting evidence along with their application, which must be made at the Invest in North Lincolnshire website.