More than £3m grant payments awarded to eligible local businesses
The joint scheme between Gloucester, Cheltenham, Stroud and Tewkesbury's district councils has seen 304 businesses benefit from the discretionary grant fund, with a total payout of £3.34 million.
304 eligible businesses across the county have collectively received £3.34m total in grants this week thanks to a discretionary business grant scheme. The fund, which launched on 9 June, was prioritised for small businesses who were not eligible for support in the previous scheme.
The scheme, which has now closed, is the work of four local councils - Cheltenham, Gloucester, Stroud and Tewkesbury - working in collaboration to ensure effective and fair distribution of the discretionary grant funding. Advice from local BIDs (business improvement districts) and Gfirst LEP (local enterprise partnership) was also drawn upon.
The authorities’ chief finance officers said: ‘’We are pleased to have been able to get so many of these grants paid out so quickly and hope that it gives these businesses the boost that they need. We are continuing to assess applications and if they meet the eligibility within the policy then subsequent payments will be made.
“It was important to ensure a consistent approach for businesses across our region so that they have clarity and certainty that this money will go to where it is needed most, in line with the guidance provided to us. The application window was limited to a two week period as we had limited funds for this scheme.
“We are extremely pleased we were able to target those businesses identified by GfirstLEP and other consultees. Boutique hotels, pubs, restaurants and other businesses in the hospitality sector have all secured £25k which will give those businesses a fighting chance to recover. It is so rewarding to have been able to make a real difference to those in genuine need this time around.”