A fund to support small businesses who haven’t had any government funding to date, has had applications for more than £3 million in just two days.
It will re-open this week to offer help to more businesses: those that have made any amount of loss in 2020.
Lincolnshire County Council‘s Business Recovery Fund has had over 400 applications which are now being processed before funding can be allocated.
Feedback from many businesses was that they have made a loss but did not meet the 30% threshold, so the scheme will re-open at 9am on Thursday 4 March until Saturday 6 March at noon to allow these businesses the chance to apply.
Cllr Colin Davie, executive councillor for economy and place at the county council, said: “We’re delighted that we have had so many applications already and it’s important that we are looking to help those businesses that have suffered with the largest losses first. We’re now able to extend the eligibility to small businesses that have made any loss, provided they meet the other criteria.
“And in the next few weeks we are also launching three further funding schemes to provide grants to help businesses improve their digital offer, expand and grow, and a specific grant for businesses and organisations in rural areas. These aim to give our local economy a much-needed boost, supporting businesses into the future.”
The application window will run from Thursday 4 March at 9am until Saturday 6 March at noon. The other existing eligibility criteria will remain.