Small and micro-businesses in North Kesteven will be given a boost thanks to a £1m grant fund from Central Government.
Following the Government’s announcement of a new top up grant to support those affected by Covid-19, the District Council will receive a total of £1,035,000 to help businesses in the district to continue trading.
Applications will open on Monday 1ST June.
Council Leader, Councillor 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).
Business 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
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 11th March 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 1st July. The Grant Team will contact businesses directly should further information be required during this period.
For further information on eligibility and how to apply head to www.n-kesteven.gov.uk/DiscretionaryFund