We have already discussed the financial support available for businesses impacted by coronavirus previously. However the latest initiative known as the Discretionary Grant Fund could prove to be extremely valuable for micro and small businesses.
Who is eligible for the Discretionary Grant Fund?
A Discretionary Grant Fund is available for small and micro-businesses that have been adversely affected by the Coronavirus and that are not eligible for other grant schemes.
A business will be potentially eligible if it fulfils the following criteria:
Who does not qualify?
You can't apply if your business is in administration, insolvent or has received a striking-off notice. Additionally you cannot make a claim if you are already claiming under another government grant scheme. However you can claim under the Coronavirus Job Retention Scheme or Self-Employed Income Support Scheme and still potentially qualify.
How much can I claim?
The grant amount payable is discretionary though may be up to £25,000, £10,000 or any amount under £10,000.
It is worth noting that priority applications will be given to the following businesses
How do I apply?
This grant opened on 29 May 2020 and it closes at 9 am on 15 June 2020. You will need to go to your local council's website in order to apply.
For more useful information, check out our Ebooks here.
And if you'd like to know how we can help you with all of this, or with anything else, feel free to give us a call on 01202 048696 or email us at [email protected].