Published: Friday 27th March 2020 | 1.22pm
Cannock Chase Council will be processing Government grants to support local businesses across Cannock Chase District during the COVID-19 emergency.
The Council will be distributing grants of up to £25,000 for businesses in the retail, hospitality and leisure sectors with rateable values between £15,000 and £51,000. Grants of £10,000 will be available for all businesses in receipt of Small Business Rate Relief. These will not need to be paid back.
The Council will be making direct payments to businesses using their bank details from Business Rates payments. However, businesses who do not pay Business Rates by direct debit are being asked to provide information and their bank details. These businesses will need to complete an online form by visiting www.cannockchasedc.gov.uk/businessgrant.
In addition, the Council will also now be processing a 100% Business Rate relief for all businesses in the retail, hospitality and leisure sectors for 2020/21. For these businesses, new bills will be issued as soon as possible.
Additionally, for larger businesses, the Government has introduced a guaranteed loan scheme for any small or medium sized business (with a turnover of no more than £45m) that needs access to cash to help with immediate business costs. The scheme will offer loans of up to £5m, with no interest due in the first 12 months. This scheme is administered by the bank Industry.
Bob Kean, Head of Finance for Cannock Chase Council said: “In these uncertain times, we need to help as many businesses as we can. As a Council, we are here to support our residents and businesses, and we’ll process these grants as soon as possible to make sure that businesses have the money that Government has made available.
“We can assure you that we are diverting resources to ensure this is completed as quickly as possible and I would ask that you try and avoid contacting us for updates so we can focus on getting the money to eligible businesses.”
To find out more about support from Government and advice for businesses visit www.cannockchasedc.gov.uk/coronavirus