East Lindsey District Council reveals details of new coronavirus business support fund

The LADGF is the latest support scheme that the Government have made available to help businesses recover from the impacts of Coronavirus.

The Fund aims to support small businesses that have seen a significant drop in income due to Coronavirus restriction measures, but have not previously benefited from either of the Small Business Grant Fund, the Retail, Hospitality and Leisure Grant schemes or other identified support schemes.

East Lindsey District Council will be administering the scheme locally and will begin accepting applications from Wednesday, June 3.

The Government has allocated £2.75m to support small businesses throughout the District with the amount awarded to each business dependent on the application submitted, up to a maximum of £25,000.

The council anticipates the Fund to be oversubscribed and as such funding will be allocated on a competitive first come, first served basis - this means that not all applications will be supported.

Applications will be accepted until June 30 but the Fund may close early, should all funding be allocated.

More information on the LADGF, including eligibility criteria and a list of supporting information required to make an application, can be found at www.e-lindsey.gov.uk/CVBusinessGrants.

The application form will also be available on that page from Wednesday, June 3.

Councillor Adam Grist, Portfolio Holder for Market Towns and Rural Economy, said: “I’m very pleased with the progress we have made in distributing grants and supporting businesses through the Small Business and Retail, Hospitality and Leisure Grants.

“However, we realise that this continues to be a challenging and uncertain time for the local economy and we welcome the launch of the LADGF, which will help many of our businesses that found themselves ineligible for the previous schemes.

“I would encourage all of these businesses to review the qualifying criteria and if eligible, make an application once the Fund opens.”

To date, East Lindsey District Council have also distributed £43m of grants through the Small Business Grant Fund and the Retail, Hospitality and Leisure Grant.

However, there are still a number of eligible businesses who have yet to make a claim.

The council have urged those businesses who have not yet completed the online form to do so, as soon as possible by viisitng www.e-lindsey.gov.uk/grantfunddeclaration

A paper copy can be requested by calling 01507 601111.

More information around support available to businesses affected by the coronavirus pandemic is available at www.e-lindsey.gov.uk/CVBusiness