Over £4million of additional cash will be distributed to city firms which have seen reduced income during the Covid-19 pandemic.

The Discretionary Grants of up to £20,000 per business will be given out in two rounds, one from now until 31 March 2021 and the second from 1 April 2021 to 31 March 2022. Applicants will be dealt with on a first come, first paid basis for each round to ensure that support is given as quickly as possible. When the £4,045,000 pot has been emptied, no further payments will be made.

They will be distributed in addition to the Business Grants which Peterborough City Council is already processing for businesses that missed out on income during the second national lockdown in November. For further information about Business grants, log onto the city council’s website.

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 all businesses in Peterborough to check their eligibility against both the national grant schemes and this new discretionary scheme and to please get in touch with us at the earliest opportunity.”

Eligible businesses which could receive a Discretionary Grant include:

Business with a rateable value of above £51,000

Indoor soft-play or similar leisure businesses

Businesses not on the Business Rates list if they can demonstrate a significant Covid-19 impact

The Leisure and Hospitality supply chain

Any business which can demonstrate a significant fall in turnover as a result of Covid-19

Day nurseries

Beauty, performing arts and crafts sector

Businesses requiring rent support

Independents, freelancers and business in the 'live events' sector

Businesses which will not be eligible include:

Businesses that have already received grant payments that equal the maximum levels of State Aid permitted.

Businesses that are in administration, insolvent or where a striking-off notice has been made.

Businesses where any payments are intended to offset existing or future business rate liabilities

Business not trading before restrictions came into force (in Peterborough 04/11/2020)

Car parks

Properties used for personal use

Discretionary Grant payments will not be paid where the value of grant exceeds the level of loss in income suffered by the businesses, nor where total grant payments would exceed the value of the fixed business costs incurred by the company.

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 all businesses in Peterborough to check their eligibility against both the national grant schemes and this new discretionary scheme and to please get in touch with us at the earliest opportunity.”

Full details, including how to apply, can be found on Peterborough City Council’s website.

Grants of up to £20,000 available for some Peterborough businesses