InvestSK: Local Authority Discretionary Grant Fund

InvestSK: Local Authority Discretionary Grant Fund

The Government has announced new grant funding to help small businesses that were not eligible to receive previous business grant schemes which were distributed in response to the coronavirus (COVID-19) outbreak.

An overall allocation of £1.54m has been awarded to South Kesteven District Council to support businesses that to date have not been eligible to access other forms of Government Covid-19 grant funding.

This allocation has been provided to South Kesteven District Council in order to deliver the Local Authority Discretionary Grant Fund in accordance with the guidance provided by Government on 13th May 2020 and the discretion afforded to Local Authorities within this guidance.

The Local Authority Discretionary Grant Fund is in addition to the Small Business Grant Fund and the Retail, Hospitality and Leisure Grant Fund already being administered by South Kesteven District Council.

Under the guidance issued to the Council by Government on 13th May 2020, the Local Authority Discretionary Grant Fund is only available to businesses:

That were trading on 11 March 2020 and that are not eligible for the following schemes:

– Small Business Grant Fund

– Retail Hospitality and Leisure Grant

– The Fisheries Response Fund

– Domestic Seafood Supply Scheme (DSSS)

– The Zoos Support Fund

– The Dairy Hardship Fund

Businesses that have applied for the Coronavirus Job Retention Scheme are eligible to apply for this scheme and if your business has furloughed staff, then it will still be eligible to apply for a Discretionary Grant.

Businesses who are eligible for the Self-Employed Income Support Scheme (SEISS) are eligible to apply for this scheme as well.

Companies that are in Administration, are Insolvent or where a Striking-Off Notice has been made are not eligible for funding under this scheme.

The Discretionary Grant Fund is intended to support small and micro businesses that fall into all of the following categories:

– Businesses with less than 50 staff

– Businesses with a turnover of not more than £10.2million and/or a balance sheet not exceeding £5.1 million

– Businesses with relatively high ongoing fixed property-related costs

– Businesses which can demonstrate a significant fall in income due to Covid-19

– Businesses which occupy property with a rateable value or annual rent or annual mortgage payment of below £51,000.

South Kesteven District Council will be unable to provide direct support to individual businesses in the completion of their application form. However, if you have a specific requirement that you need to make us aware of in respect to you being able to complete the form please contact 01476 406430 / 01476 406374

South Kesteven District Council will launch its Local Authority Discretionary Grant Fund on Monday 1st June 2020 and will remain open for applications until 5pm Friday 12th June 2020.

Click here to find out more and apply.

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