We have taken action to expand our Local Authority Discretionary Grant Fund scheme for small businesses. To date, we have allocated over £1.4 million of the £1.6 million fund provided by government to distribute to small local businesses.
The small businesses eligible for this fund were initially outlined by government guidance as: charities, bed and breakfasts, market traders and those in shared/serviced accommodation. We have now successfully allocated over 80% of the fund to these businesses, but have implemented changes to the eligibility to open the fund to a wider array of small local businesses.
Starting on Tuesday 14 July 2020, a new application form opened that allows for any other small business to apply for grant funding. To be eligible under the new criteria, small businesses must be able to demonstrate and prove revenue loss. Full details of the new criteria can be found on the Discretionary Business Grant Scheme page.
Executive Leader of the Council, Cllr Ryan Fuller, said: "We have already delivered a significant amount of financial support to local businesses through the initial Discretionary Grant Scheme, which has been successful in offering vital support for some of those who fell outside of the government’s first tranche of business grants.
"We had to prioritise the four categories of businesses that were set out in government guidance. However, we appreciate that there are still businesses in Huntingdonshire who have so far not been able to benefit from any of the government grant schemes and so with a couple of weeks of the scheme remaining and circa £200,000 left in the fund, we are now able to expand the eligibility criteria and help other small local businesses."
Funding will continue to be allocated and distributed on a first-come, first-served basis to ensure that funds applied for can be given out as quickly as possible.
With a small fraction of the overall fund remaining, please be aware that the funds will deplete and be allocated extremely quickly.
The scheme is scheduled to close on Friday 31 July 2020 - however, we will suspend the scheme as soon as the funding has run out. Any applications that are received after all the fund has been allocated will be held on a reserve list, in order of date application, to be processed if any further funding becomes available.
For full details on the new expanded scheme, please visit the Discretionary Business Grant Scheme page.