Council offering new £1m Covid-19 grant fund for small firms

Small and micro-businesses will be given a boost thanks to a £1m grant fund from Central Government.
NKDC offices EMN-190322-165529001NKDC offices EMN-190322-165529001
NKDC offices EMN-190322-165529001

Following the Government’s announcement of a new top up grant to support those affected by Covid-19, North Kesteven District Council will receive a total of £1,035,000 to help businesses in the district to continue trading.

Applications opened on Monday, June 1.

Council Leader, Coun Richard Wright said: “We understand how difficult it has been for businesses in the district during this time, so to be able to offer this further support of funding is a welcome relief.

“Our economy is part of the back bone that makes this district thrive, and anything we can do to support it further we will.

“We urge those eligible businesses to apply as soon as they are able.”

The fund will target small and micro businesses not eligible for support under the existing grant funds; the Small Business Grant Fund (SBGF) and the Retail Hospitality and Leisure Grant (RHLG), or the Self Employed Income Support Scheme (SEISS). Those businesses already eligible for either the SBGF or RHLG support schemes need not apply.

Businesses which have already taken advantage of the Government ‘furlough scheme’ or ‘bounce back’ loans can apply for support from this fund.

Eligible businesses must have:

1) Significant ongoing property costs and/or suffered a significant drop in income due to Covid-19. Evidence will be required for either of these key determining factors.

2) Have been trading on March 11, 2020.

3) A plan to continue trading when circumstances allow.

Applications will remain open for an initial two week period before closing to allow the council to evaluate demand.

Final decisions will not be made until Wednesday July 1. The Grant Team will contact businesses directly should further information be required during this period.

Businesses that fall in the following categories are encouraged to get in touch:

1) Rent or sublet premises that do not pay business rates

2) Shared workspaces

3) Working from home

4) Small Bed and Breakfast providers

5) Local charities

Small and micro businesses active in the following sectors, important for the resilience of the local economy should also consider applying if they fall into these sectors:

1) Visitor economy

2) Manufacturing and engineering.

For further information on eligibility and how to apply head to www.n-kesteven.gov.uk/DiscretionaryFund