New £9,000 Covid support grants available for closed Melton businesses

The funding lifeline, which is in addition to the existing monthly closed grants of up to £3,000 per month which business owners continue to be eligible for, follows last night’s confirmation by Prime Minister Boris Johnson of another national lockdown.

Melton Borough Council will receive the funding for the one-off grants next week and businesses can receive multiple grants as they are eligible on a per-premises basis.

On top of this, the council will also get a share of a £594million pot for discretionary funding to support local businesses who are not eligible for the one-off grants.

This money will be allocated in the same way as the £1.1billion discretionary funding which local authorities in England have already received to support their local economies and help businesses impacted.

Many Melton businesses were already closed before last night’s announcement after the whole of Leicestershire was placed under the toughest Tier 4 restrictions last Wednesday.

Melton MP Alicia Kearns welcomed the new one-off grants of up to £9,000, which are part of a £4.6billion package to support businesses and protect jobs throughout the spring lockdown.

She said: “The new strain of the virus means we must take swift and targeted action to save lives and protect the NHS, but it is right that the Chancellor has taken equally timely and robust action to bolster our businesses through the tough upcoming months.

“The new one-off grants build on the vast support already available to Rutland and Melton businesses and will help them sustain jobs so workers can return as soon as they are able to reopen.

“I’m particularly delighted to see robust support for our hospitality industry who have suffered so greatly and for whom I’ve lobbied consistently.”

The one-off additional grant each business premises will receive depends on their rateable value:

***Businesses with a rateable value of £51,000 or above get £9,000;

***Businesses with a rateable value between £15,000 and £51,000 receive £6,000;

***Businesses with a rateable value of £15,000 or below get £4,000.

The latest lockdown is another major blow for the local economy, with many businesses struggling to stay afloat despite billions of pounds being paid in support by Chancellor Rishi Sunak.

The government has also provided 100 per cent business rates relief for retail, hospitality and leisure businesses and the furlough scheme is now extended to April with 100 per cent government backed loans now extended to March.