A discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme. The additional fund is aimed at small businesses with ongoing fixed property related costs who have less than 50 employees and will be structured around three levels of grant payments.
Locally, over £120m has already been paid out to businesses via the Business Grants scheme the Council has administered on behalf of Government.
The Councils media release about this was issued yesterday to explain our plans for this. We ask please bear with the Council while the details are worked out.
A free support initiative for microbusinesses in Leeds has launched, providing help for small businesses (with 0-9 employees). The Leeds MicroBusiness Support website features helpful resources on things like finance, government support, strategy, marketing & people.
Small business owners in Leeds can also book telephone 121s with local business experts, for bespoke advice & support. The project has been supported by Leeds City Council and business transformation experts Insight with Passion.
Small businesses are to benefit from a new fast track finance scheme providing loans with a 100% government-backed guarantee for lenders.
The new Bounce Back Loans Scheme will bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic by providing loans of up to £50,000.
The scheme has been designed to ensure that small firms who need vital cash injections to keep operating can get finance in a matter of days. The government will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months. No repayments will be due during the first 12 months.
The scheme will launch for applications on Monday 4 May. Firms will be able to access these loans through a network of accredited lenders.