Businesses in Barrow urged to apply for new government funding scheme before it’s too late
Businesses in Barrow that were ineligible for support in the government’s initial round of funding are being encouraged to apply for the new discretionary support grant before it’s too late.
Barrow Borough Council has been allocated £693,250 to help support businesses in the area that previously missed out on crucial funding during the Covid-19 pandemic.
The new scheme is intended to fill some of the gaps and is specifically aimed at small and micro businesses that have suffered financial loss in the past three months.
It is also aimed at those that were initially not eligible for other support grants, such as those in hospitality, retail and leisure.
Now, businesses have just a week left to put an application forward for the government’s new Local Authority Discretionary Grants Fund.
With the deadline on June 15, Barrow Borough Council is urging businesses to apply for this special grant and not miss out on funds they could be entitled to.
The maximum grant available in Barrow is £10,000.
Leader of Barrow Borough Council Cllr Ann Thomson said: “We are determined to help as many businesses as we can with this money.
“But with the deadline looming we really urge people to find out whether they do qualify for the Discretionary Grant and to apply as soon as possible before it’s too late.
“Securing this type of funding could make a huge difference to those who have been struggling since the start of lockdown and we want to remind businesses that they do not have to pay this grant back if they are successful.
“Hopefully this type of financial support will help give businesses peace of mind and the determination to continue during this very difficult time.”
Guidelines around which businesses are eligible for the new grant have been set by central government. Eligible businesses must:
● Have been trading on the 11th March 2020
● Have not been eligible or received a grant from the existing Covid grant schemes or other support schemes (excluding the Self-employed Income Support Scheme).
In addition to the eligibility criteria, the Government has said that the grants are aimed at the following businesses:
● Small or Micro businesses
● Businesses with relatively high ongoing fixed property-related costs
● Businesses which can demonstrate that they have suffered a significant fall in income due to the COVID-19 crisis
● Businesses which occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000 (where a rateable value exists this will be the figure used)
There is a fixed window for businesses to apply for the fund and this closes at midday on Monday, June 15.
After the closing date, applications will be assessed as soon as possible to determine levels of grants payable.
More information about the scheme and how to access it is available from barrowbc.gov.uk