James Palmer, the Cambridgeshire & Peterborough Mayor has introduced a new Covid-19 Capital Grant Scheme.
Grants available are from£2,000 to £150,000 for new capital investments to help companies buy new equipment, build extensions, update production lines, IT and for upgrading logistics during these difficult times.
The capital investment grant is to help qualifying companies in the region survive at this time and bounce back stronger in the future.
Your project should be something that will support a specific sector which is suffering due to the restrictions of the COVID 19 virus. For example we have already seen how restaurants are now delivering meals to their customers and to the more vulnerable at this time.
Please follow the link below which will take you to the grants website where you can check if you qualify and then can apply. The qualifying region spans a wide geographical area covering parts of Lincolnshire, Cambridgeshire, Norfolk and Suffolk. http://capitalgrantscheme.co.uk/
In order to qualify for a grant you must meet the following criteria:-
- Be a Limited company
- Have a turnover under 46 Million Euros
- Have between 5 and 249 employees
- Have 3 years accounts filed at Companies House
Grants between £2,000 and £49,999 will fund up to 80% of the total qualifying costs.
Grants between £50,000 and £150,000 will fund up to 50% of the total qualifying costs.
Our team at Whiting & Partners will be able to assist you with your application.