West Lindsey District Council is urging local businesses that have not already received Government support to apply for the Discretionary Grant Fund, which will close on Friday 7 August 2020.
The fund, which was launched at the beginning of June, was designed to support those businesses who were ineligible for the Small Business Grant Fund or Retail, Leisure and Hospitality Fund and who have been severely affected by COVID-19.
So far, the Council have supported 83 businesses, paying out £535,000 with a remaining £300,000 available. Currently there are 22 applications that are being assessed but there is still a significant amount of funding available for businesses.
Leader of West Lindsey District Council, Cllr Giles McNeill, is keen to ensure all eligible businesses get access to the funds they need. He said: “Our teams have been working extremely hard over the last few months to ensure that businesses are getting the funding support they desperately need. If you are not sure if you are eligible, please get in touch.
“It is vital that we distribute this funding so businesses can start to recover and rejuvenate the local economy.”
Grants range from £5,000 to 25,000 and are based on three distinct categories.
Grant funding from the first round of grants is also still available which has already paid out nearly £17million, supporting 1,470 businesses across the district. £2million from this fund still remains to be paid with 243 businesses yet to apply.
The grants fall in to three categories:
- Category One – Grant of £25,000: Businesses in Retail Hospitality and Leisure that were registered for business rates and in occupation of the same premises with a rateable value between £51,250 and £79,500.
- Category Two – Grant of £10,000: Businesses that registered for business rates and in occupation of the same premises with a rateable value between £15,001 and £49,999 are eligible for £10,000.
- Category Three – Grant of £5,000: Businesses occupying a premises, or part of a premises with a rateable value or annual rent / mortgage paying below £51,000.