More funds available for COVID-hit businesses in Exeter
Published: 8 July 2020
Businesses in Exeter are being encouraged to apply for a Discretionary Business Grant.
The grants are aimed at businesses who have high on-going fixed property costs.
The grants were launched last month but restricted to just four types of business. Because funds are still available, a second tranche means the grants are now available to all types of businesses in Exeter, provided they meet certain criteria.
Qualifying businesses have until 5pm on 21 July to apply for an award and meet the following criteria:
- Have fewer than 50 employees – this means less than 50 employees employed directly within the business premises that the grant claim is being made for
- Have been trading on 11 March 2020
- Are not eligible for cash grants from any Central Government Covid-related scheme
- Are not in administration, insolvent or a striking off notice has been made
Businesses which occupy property, or part of a property, with a rateable value or annual rent or annual mortgage of £51,000 or more, are eligible to apply in tranche 2 as long as they also meet the other eligibility criteria stated above.
The Council has decided that a higher priority will be given to local independent businesses than national or international chains.
The level of grant awarded will be determined by the information and evidence received from the online application process.
There will be a grant award limit of £5,000 applied to businesses operated from home. Fixed property costs of a business operating from home will be limited to the proportion of the home dedicated to business use. This must be defined and evidenced in the grant application.
Cllr Emma Morse, Lead Councillor for Supporting People, said: “Through this second round of funding, we want to support those businesses that have not yet benefitted from any grant support. To support them through this extremely difficult time, any type of business located in Exeter can now apply for grant funding. Some businesses have just re-opened, but some still remain closed.
“We want to support local and regional independent businesses, so a higher priority will be given them over and above national or international chains.
“Applications are open for 14 days, so please submit your application very soon,” she added.
To find out more go to the City Council's website