Hull City Council is now processing payments for a new grant support fund for city businesses.
About £2.4 million is being distributed by the local authority to businesses hit by the economic impact of the coronavirus pandemic.
The Hull Business Discretionary Grant Fund is targeted at small businesses and charities that may not be eligible for other funds.
An online application form went live on the council’s website two weeks ago.
Since then, more than 300 applications have been received and the first round of payments is expected to be made today.
The discretionary fund is aimed at small businesses with ongoing fixed property-related costs. It will prioritise businesses including those in shared or flexible workspaces without their own business rates assessment, regular market traders with fixed building costs and small charity properties in receipt of charitable business rates relief.
Councillor Daren Hale, deputy leader of Hull City Council, said: “This is fantastic for small businesses and organisations in the city trying to recover from the effects of the coronavirus. We are among the first councils in the country to start distributing these discretionary grants to business because we recognise support like this can be the difference between survival or collapse.
“Millions of pounds has already been distributed by the council to support thousands of businesses in Hull. Earlier rates-related grants were based on having a business rates assessment, which unfortunately excluded a number of businesses from accessing grant support, whereas this one does not.
“We look forward to working with these companies as they recover and grow.”
Apply for the Hull Business Discretionary Grant and find more details here.
For more information, email [email protected].