£1.4million to help South Tyneside businesses left out of grants scheme during crisis
The Government has asked local authorities to administer a grant fund aimed at supporting certain businesses which may have fallen outside the scope of previous financial aid.
As there are limited funds, there will be strict eligibility criteria and grants will be awarded on a first come, first served basis.
South Tyneside Council has been allocated £1.4million which will be distributed as £10,000 grants to 140 eligible businesses.
Council bosses are now encouraging firms which have been affected by coronavirus to get in touch.
Leader of South Tyneside Council, Coun Iain Malcolm, said: “The Government has announced a new fund to accommodate certain businesses which haven’t already benefited from one of the previous Covid-19 support schemes.
“Councils will be asked to distribute this, and we have decided to split our £1.4 million allocation into grants of £10,000 each.
“We recognise that this means we probably won’t be able to offer all eligible firms a grant.
“In line with government guidance, we are looking to support businesses in commercial property with ongoing fixed property costs (which) are able to demonstrate that their trading activity has been adversely affected by the pandemic.
“We know that this is an extremely difficult time and our business community is facing huge challenges.
“We’re doing all we can to help them access vital financial assistance to see them through this crisis and beyond.”
Businesses are asked to submit an expression of interest form by 10am on Monday, June 8.
They will then be emailed instructions and directed to an online application form, where they will be asked to provide a summary of how they have been adversely affected by coronavirus.
Businesses will be notified of whether their application has been successful on Wednesday, July 1.
The expression of interest form and information about eligibility criteria can be found on South Tyneside Council’s website.
For more information on the Small Business Recovery Fund visit: www.southtyneside.gov.uk/smallbusinessrecoveryfund