Businesses Encouraged to Access Coronavirus Funds

Businesses across Greater Lincolnshire and Rutland are being encouraged to provide contact details to their district council or unitary authority if they think they are eligible for financial support to help them through the COVID-19 pandemic.

A new advice page has been published on the Business Lincolnshire website with links to the councils that should be contacted depending on where your business is based.

The page can be found by clicking here.

Councils have written to thousands of businesses across our area that are eligible for these funds:

Small Business Grants Fund
Small businesses that pay little or no business rates and are eligible for small business rate relief or rural rate relief will receive a £10,000 cash grant.

Retail, Hospitality and Leisure Business Grants Fund
If you run a business in the retail, hospitality or leisure sector and your premises have a rateable value under £15,000, you will receive a grant of £10,000.

If you run a business in the retail, hospitality or leisure sector and your premises have a rateable value between £15,001 and £51,000, you will receive a grant of £25,000.

These are grants, not loans, and do not need to be paid back.

To be eligible your business must be:

– based in England

– receiving small business rate relief or rural rate relief

– in an occupied property as of 11th March 2020 that is wholly or mainly being used

– neither liquidated nor dissolved as of 11th March 2020

Councils are aiming to start releasing the grants from 1^st April 2020 and will be paying them in tranches, so not all will be paid immediately.