Local Authority Discretionary Grants Fund
Test Valley Borough Council has begun working to pass more than £1.4million to businesses across the borough under the Local Authority Discretionary Grants Fund.
The authority was allocated £1,411,250 from funds made available through central government to help support the economy in the fight against coronavirus.
Grant payments of £2,500; £5,000; £7,500 or £10,000 will be paid will be awarded to small businesses with fixed ongoing property-related costs but which fall outside the eligibility criteria for the existing business grant schemes.
Businesses can apply through the council’s website from the on Monday 8 June and the scheme closes on Sunday, 23 June. The grant will not need to be paid back, but it will be taxable.
TVBC’s revenues and welfare team will be working hard to deliver these funds to businesses over the next few weeks. The council recently processed more than 2080 small business grants through the Business Support Scheme to the value of £25.715 million from government funding.
Finance portfolio holder, councillor Maureen Flood, said: “It is no secret that the coronavirus pandemic has hugely impacted local businesses and these funds will make a difference supporting businesses as workplaces reopen.
“Our revenues and welfare staff have played such an important part in helping businesses in the pandemic, with many thousands of pounds being processed and allocated to businesses across the borough.
“I would urge any small business to visit the council’s website and check their eligibility for this grant, and share with other businesses to encourage as many applications as possible.”
Businesses can check eligibility and guidance notes, and apply, via the council’s website under ‘coronavirus advice for businesses’.