2020

Council launches new £900,000 Coronavirus Discretionary Grant Fund for small & micro businesses

Date Posted: 3:01 PM on Tue, 2 June 2020

Council launches new £900,000 Coronavirus Discretionary Grant Fund for small & micro businesses.

Local market traders, charities and small and micro businesses in shared offices, which were not previously eligible for coronavirus grants can now apply for support through a new government funded Discretionary Business Grant Scheme administered by Gedling Borough Council.

Applications open from today, Tuesday 2 June and eligible business have two weeks to apply. The council has been awarded a total of £897,250 that can be allocated to support eligible businesses.

Small and micro businesses with fixed property costs that are not eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant Fund may be eligible for the new Discretionary Grants Scheme. Businesses are eligible even if they have applied for the Coronavirus Job Retention Scheme or the Self-Employed Income Support Scheme.

Businesses that have fewer than 50 employees, have fixed building costs such as rent and have been impacted by coronavirus can apply for a grant of £25,000, £10,000 or any amount under £10,000. They are not required to pay the money back but it is taxable.

Applications must be made directly to Gedling Borough Council by visiting www.gedling.gov.uk/discretionary-grants and the deadline for applications is 11.59pm on Tuesday 16 June 2020 the council will be responsible for deciding on whether or not the grant can be applied.

Deputy Leader of the Council, Cllr Michael Payne said:

“Coronavirus has hit local businesses hard, with many forced to close and others seeing their takings fall dramatically. This new grant scheme will go some way to helping  those small & micro businesses that haven’t been able to access earlier schemes.

The funding for this scheme is capped and limited by the government and is highly unlikely to be enough to support all those in desperate need of help. We want to help as many local businesses as we can, so we will continue to lobby the government to provide further funding and support for local businesses in Gedling Borough.

I’d urge local businesses to read the eligibility criteria for this scheme on our website and to apply without delay.”