Deadline for discretionary grant extended
Deadline to apply for Local Authority Discretionary Grants Fund (LADGF) to assist businesses facing financial hardship due to COVID-19 pandemic, has been extended to 21 June.
Until 21 June Slough businesses are set to benefit from an additional support fund set up by government to help small businesses who were not eligible for the Small Business Grant Fund or the Retail, Leisure and Hospitality Fund.
The Local Authority Discretionary Grants Fund (LADGF) will be distributed to businesses facing financial hardship due to the COVID-19 pandemic.
Slough Borough Council like other local authorities across the UK, will distribute grants to the value of £5,000. Local authorities are encouraged to make payments as swiftly as possible to support struggling businesses. It is anticipated that the first payments made under the scheme will be received by businesses early June.
Only businesses that were trading on 11 March 2020 are eligible for this scheme and businesses who have applied for the Coronavirus Job Retention Scheme are eligible to apply for this scheme as well.
Neil Wilcox, director of finance and resources, said: “The value of the payment to be made to a business is at the discretion of local authorities, which is why we are aiming to pay grants of £5,000 to ensure a greater number of businesses can receive much needed support from this new fund.
“Unfortunately the BEIS allocation to the council for this grant is only £870k which is a lot less than we were hoping for and less than what is really needed to support our local businesses. Therefore we are limited to paying only 174 businesses with a £5,000 grant.”
Councillor James Swindlehurst, leader of the council, said: “I am pleased our business community can access further funding through this new scheme.
“Micro and small businesses play an important role in growing our local economy by creating jobs and sustaining growth so it is crucial we help them recover during these extraordinary circumstances.
“I would encourage businesses who match the eligibility criteria to come forward and submit an application”.
The government has asked local authorities to prioritise the following types of businesses for grants:
Small and micro businesses, as defined in Section 33 Part 2 of the Small Business, Enterprise and Employment Act 2015 and the Companies Act 2006.
Businesses with relatively high ongoing fixed property-related costs.
Businesses which can demonstrate that they have suffered a significant fall in income due to the COVID-19 crisis.
Businesses which occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000.
A document setting out the eligibility criteria and an online grant application form is now available on the council’s website so eligible businesses can submit their applications. Assessments and payments will be made throughout the month.
More information and access to the form can be found here: https://www.slough.gov.uk/…/covid-19-local-authority-discre…
Companies that are in administration, are insolvent or where a striking-off notice has been made are not eligible for funding under this scheme.
Only businesses which were trading on 11 March 2020 are eligible for this scheme.
This grant funding is for businesses that are not eligible for other support schemes. Businesses which have received cash grants from any central government COVID-19 related scheme are ineligible for funding from the Local Authority Discretionary Grants Fund.
Businesses who are eligible for the Self-Employed Income support scheme (SEISS) are eligible to apply for this scheme as well.
Businesses who have used the Job Retention Scheme are eligible.
Businesses who have received funding through Retail, Hospitality and Leisure grant, Small Business Grant or Self Employment Income Support Scheme are not eligible.
Grants are subject to tax.
Until 21 June Slough businesses are set to benefit from an additional support fund set up by government to help small businesses who were not eligible for the Small Business Grant Fund or the Retail, Leisure and Hospitality Fund.
The Local Authority Discretionary Grants Fund (LADGF) will be distributed to businesses facing financial hardship due to the COVID-19 pandemic.
Slough Borough Council like other local authorities across the UK, will distribute grants to the value of £5,000. Local authorities are encouraged to make payments as swiftly as possible to support struggling businesses. It is anticipated that the first payments made under the scheme will be received by businesses early June.
Only businesses that were trading on 11 March 2020 are eligible for this scheme and businesses who have applied for the Coronavirus Job Retention Scheme are eligible to apply for this scheme as well.
Neil Wilcox, director of finance and resources, said: “The value of the payment to be made to a business is at the discretion of local authorities, which is why we are aiming to pay grants of £5,000 to ensure a greater number of businesses can receive much needed support from this new fund.
“Unfortunately the BEIS allocation to the council for this grant is only £870k which is a lot less than we were hoping for and less than what is really needed to support our local businesses. Therefore we are limited to paying only 174 businesses with a £5,000 grant.”
Councillor James Swindlehurst, leader of the council, said: “I am pleased our business community can access further funding through this new scheme.
“Micro and small businesses play an important role in growing our local economy by creating jobs and sustaining growth so it is crucial we help them recover during these extraordinary circumstances.
“I would encourage businesses who match the eligibility criteria to come forward and submit an application”.
The government has asked local authorities to prioritise the following types of businesses for grants:
Small and micro businesses, as defined in Section 33 Part 2 of the Small Business, Enterprise and Employment Act 2015 and the Companies Act 2006.
Businesses with relatively high ongoing fixed property-related costs.
Businesses which can demonstrate that they have suffered a significant fall in income due to the COVID-19 crisis.
Businesses which occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000.
A document setting out the eligibility criteria and an online grant application form is now available on the council’s website so eligible businesses can submit their applications. Assessments and payments will be made throughout the month.
More information and access to the form can be found here: https://www.slough.gov.uk/…/covid-19-local-authority-discre…
Companies that are in administration, are insolvent or where a striking-off notice has been made are not eligible for funding under this scheme.
Only businesses which were trading on 11 March 2020 are eligible for this scheme.
This grant funding is for businesses that are not eligible for other support schemes. Businesses which have received cash grants from any central government COVID-19 related scheme are ineligible for funding from the Local Authority Discretionary Grants Fund.
Businesses who are eligible for the Self-Employed Income support scheme (SEISS) are eligible to apply for this scheme as well.
Businesses who have used the Job Retention Scheme are eligible.
Businesses who have received funding through Retail, Hospitality and Leisure grant, Small Business Grant or Self Employment Income Support Scheme are not eligible.
Grants are subject to tax.
