Is your business eligible for the latest crisis funding? How to apply.

Date published: 27 May 2020

Oldham Council is to distribute a further £3million for local businesses through the Local Authority Discretionary Grants Fund.

The Council has already distributed over £40m through the Small Business Grant Fund and the Retail, Leisure and Hospitality Fund. The new money will be targetted at businesses who were ineligible for the earlier grant schemes.

Council Leader Sean Fielding told the Chronicle that applications are now open, and the first payments are expected to be made on the week commencing 15 June: "We need to get businesses over the line, until the lockdown eases, so they can begin to return to some degree of normality.  

"Some businesses have contacted the Council because they weren't eligible for the schemes as they stand. We understand there are businesses that don't have regular contact with us - but we want them to get in touch because they could be eligible for this new discretionary scheme."

There are grants available of £2,000,  £5,000 and £10,000 for eligible businesses.  

To be eligible for the grant, the business or charity must:

•    Be located in the Borough of Oldham
•    Be classified as a small business with:

  •     a turnover of no more than £10.2m per annum
  •     a Balance Sheet Total of no more than £5.1m
  •     fewer than 50 employees

•    Have a rateable value of £51,000 or less
•    Have direct on-going fixed property costs e.g., rent, rates, utilities and insurance costs.
•    Pay rent or mortgage costs of at least £1,200 per annum
•    Have been operating on 11 March 2020
•    Be able to demonstrate a significant fall in income as a result of Covid 19

Councillor Fielding expressed concern though, that the funding may not be enough.

"The issue is that we don't know how many applications we are going to get.  

"If we get more applications than the new funding can finance, we need to consider each application on a case-by-case basis, and look at whether it is appropriate to use some of our own funding to support business and the economy in the borough"

The closing date for applications is Friday 5 June at 5pm

To find detailed criteria and to apply for the Local Authority Discretionary Grants Fund, click here.

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