Extra funding available for small Peterborough businesses and charities

Small businesses and charities in Peterborough that have been impacted by Covid-19 are being invited to apply for funding.

From Monday 15 June until Friday 26 June businesses can apply for grants of up to £10,000. The move comes after the council received £1.5m of discretionary funding from government to help support small businesses and charities in the city.

The fund is in addition to the current Small Business Grant Fund (SBGF) and Retail Hospitality and Leisure Grant Fund (RHLGF) and is specifically aimed at certain small businesses who did not qualify under these schemes.

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To qualify for support, businesses will have relatively high ongoing fixed property-related costs, and can demonstrate that they have suffered a significant fall in income due to COVID-19. Non rateable firms can also apply.

Councillor David Seaton, cabinet member for finance at Peterborough City Council, said: “We are fully committed to helping businesses during these difficult and unprecedented times. We know how valuable these grants are to businesses, allowing them to continue to operate and support their employees.

“I would urge any businesses or charities that fall within the eligibility criteria to please get in touch with us at the earliest opportunity.”

The grants are primarily aimed at:

· Small and micro businesses, as defined in the Small Business, Enterprise and Employment Act 2015 and the Companies Act 2006.

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· Businesses with relatively high ongoing fixed property related costs.

· Businesses which can demonstrate that they have suffered a significant loss in income due to the COVID-19 crisis.

· Businesses which occupy property, or part of a property, with a rateable value, annual rent or annual mortgage below £51,000.

· Businesses which were trading on 11 March 2020.

For further information about the grants and the eligibility criteria visit https://www.peterborough.gov.uk/healthcare/public-health/coronavirus/coronavirus-covid-19-small-business-discretionary-grant-fund#policy-0-8. From Monday 15 June businesses will be able to apply for grants online.