Fenland businesses start to receive government cash to help them with current coronavirus crisis
As of yesterday (Tuesday), Fenland District Council has paid out over £2.6million worth of Government grants to help small businesses through the coronavirus crisis.
The first grant payments, of £10,000 each, were received in businesses’ bank accounts yesterday morning, with a total of 261 local businesses scheduled to receive a £10,000 grant in their bank accounts by tomorrow (Thursday) morning. Payment of the first of the £25,000 grants are due to start next week.
The council is administering the Small Business Grant Fund and the Retail, Hospitality and
Leisure Grant Fund from the Government’s support packages to help local businesses meet
ongoing costs during the pandemic.
Staff are working hard to ensure more than £21million worth of funding is distributed to
Fenland businesses as soon as possible, with approximately 1,850 eligible businesses
expected to benefit.
Fenland's leader, Councillor Chris Boden, said: “Our businesses are vital to Fenland’s economy and to the many thousands of local people they employ, so it is essential they are provided with support to ensure their survival through this crisis.
“I’m delighted we have been able to make these first grant payments so quickly. Administering these schemes and getting payments out to those who need them remains the highest priority for the Council’s finance team.
“The suspension of business rates for retailers and our hospitality and leisure companies will also offer much-needed support in these challenging times.”
Steve Barclay, Chief Secretary to the Treasury and MP for North East Cambs, added: “Over the past few weeks, I have been working closely with the Chancellor to introduce a package of measures designed to reduce the impact of the coronavirus pandemic on the business community. During this national challenge, it is crucial that businesses are able to access support and guidance where needed.
“I am pleased that businesses in Fenland are utilising the support made available to them by the Government. These schemes help Fenland businesses during this difficult time and enable them to continue contributing to the economy and providing jobs for our local area. I want to thank Fenland Council for their role in administering the distribution of this
vital support for hundreds of local businesses.”
The funding being administered by the council includes:
Small business grant funding of £10,000 for all business receiving small business rate relief or rural rate relief, with a rateable value of £15,000 or less; or
Grant funding of £10,000 for retail, hospitality and leisure businesses with property with a rateable value of £15,000 or below; or
Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,001 and £51,000
Letters and emails have been sent to businesses which may be eligible for grant funding. Businesses are asked to complete a Business Declaration Form and confirm payment details to ensure grants can be paid.
Businesses which do not receive a letter or email in the next couple of days, but think they are eligible for a grant, can download the necessary documentation from the council’s website at: www.fenland.gov.uk/coronavirusbusinessgrants or contact the council on 01354 654321.