£670K Council fund to further support Borders businesses

sbc logoOver £670,000 of additional support is being made available to Borders businesses suffering from the short-term financial impact of the COVID-19 pandemic.

The Borders Discretionary Support Fund for Business is being made available to small businesses and the self-employed in the area who have suffered from the impacts of the pandemic since 1 October 2020 and who have been ineligible for any COVID-19 related business support since that date.

Applications for the fund will be open for a three week period from 8 February 2021 to 28 February 2021. Within three weeks of the application closure date, the Council will determine the level of grant support that can be provided, issue decisions and make payments via BACS to applicants' bank accounts.

The scheme aims to support as many local businesses as possible to mitigate the immediate financial challenges they have faced as a result of restrictions and regulations introduced to control the spread of COVID-19.

The new fund will complement the range of pre-existing financial assistance schemes available through Scottish Borders Council including the Strategic Framework Business Fund and the newly launched Taxi and Private Hire Driver Support Fund.

Councillor Mark Rowley, Executive Member for Economic Regeneration and Finance, said: "Over £670,000 of extra funding has been made available to support small businesses and the self-employed in the Borders area during this tough time.

"This latest injection of grant funding will specifically support our local businesses who have suffered financially as a result of the COVID-19 pandemic but have been unable to access other funding support since October last year.

"There is a wide range of business grants available, both administered by the Council and other partners, and I would urge businesses to explore what options are available to them through the Find Business Support website."

So far over £35million in financial support has been provided to businesses by Scottish Borders Council through the Scottish Government's various funding programmes to date.

To be eligible for a one-off grant through the Borders Discretionary Fund for Business, applicants must meet the following criteria:

• Be a small or micro-businesses with less than 50 employees or are registered as self-employed
• Be based in, or operate within, the Scottish Borders area
• Not have received any other COVID-19 related business support since October 2020
• Be able to evidence a demonstrable current impact on their business from COVID-19
• Not currently be in receipt of state unemployment related benefits

Further information on the discretionary fund, including full eligibility criteria and an application from, will be published in due course on the Council's website at www.scotborders.gov.uk/covid19business

More information on the wide range of support available for businesses is available from the Find Business Support website - www.findbusinesssupport.gov.scot

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