In accordance with Government guidance, applications for the current business grant schemes will close on 31 March 2021.
The Local Restriction Support Grant (LRSG) is a financial package for businesses which have been forced to close under Tier 4 restrictions from 31 December 2020 and the National Lockdown 05 January 2021.
The Local Restriction Support Grant will provide financial assistance and support to businesses which would have been open, providing in person services to customers from their business premises and then mandated to close from the 31 December 2020 and continue to be closed in accordance with The Health Protection (Coronavirus, Restrictions) (All Tiers) (England) Regulations 2020.
The amount to be paid for the period 31 December 2020 to 15 February 2021 will be determined by the rateable value of the property for business rates purposes. There are 3 rates of grant payments as detailed below:-
- RV of £15,000 or less £2239
- RV over £15,000 and less than £51,000 £3357
- RV of £51,000 or over £5035
The scheme will operate in accordance with Government guidelines and funding availability.
Councillor Miles Parkinson OBE, Leader of the Council said,
“During the period of the current Tier 4 and National Lockdown restrictions from 31 December 2020, we have issued more than £4m in additional funding to support vital local businesses that have been mandated to close.
These grants have been vital to our local economy, helping ensure the survival of shops, cafes, hotels, restaurants and many other businesses.
We are in the final stages of the current business support grants. The vast majority of eligible businesses have now claimed and have been paid these grants.
Given the schemes’ success, in that 98% of eligible businesses in Hyndburn have received grants, Government has announced that they will be closing the Local Restriction Support Grant, and Closed Business Lockdown Payment schemes on 31 March 2021.
If your business has been mandated to close, and is eligible for these grants, but your business has not yet submitted an application for these grants, please do so as soon as possible.
It is important that we continue to support our businesses throughout these difficult times ensuring funds are allocated to those businesses that have been forced to stop trading under the Government’s imposed restrictions.
Applications for Tier 4 and National Lockdown Local Restriction Support Grant scheme will remain open until 31 March 2021. All the information needed to apply is on our website with the online form available 24 hours a day.
The application form incorporates a section around additional one-off grants of up to £9,000 for businesses in the retail, hospitality and leisure sectors.
I would urge our community of businesses to apply whilst we are still facing local and national restrictions”.
For information or to apply, please visit https://www.hyndburnbc.gov.uk/financial-support-for-businesses/