The Scottish Government has today announced a new fund to support the creative, tourism and hospitality sectors. Click HERE to apply.
What does this involve?
This fund is designed for companies that are ineligible for other COVID-19 grant support or are not yet in receipt of the funds they need to survive.
Am I eligible?
You must meet these criteria in order to apply:
- Your company has up to 49 employees
- You have experienced at least a 50% loss of current or projected revenue
- You were not in financial difficulty before 31 December 2019
- You are not in receipt of other COVID-19 government support, except the Furlough Scheme
- You are not a pre-revenue company
- You have a business bank account
What does this cost?
There is no cost to apply
Who is this for?
This is for small Scottish creative, tourism and hospitality businesses who have experienced at least 50% loss of current or projected revenue as a result of COVID-19.
How long does this take?
It will take up to 10 working days from application to appraisal and funds being released for approved applications.
Before you apply you must meet some criteria and have detailed information to hand. You will need to:
- meet the stated eligibility criteria
- have a business bank account
- provide a bank statement from your business bank account that is less than 3 months old
- provide a Companies House registration number if you are a registered business
- provide a VAT registration number if you are registered for VAT
- provide the following information to complete a 3 month cash flow table: any invoicing discount drawdown, net debtors receipts, VAT, funding from Coronavirus Job Retention Scheme, funding from Coronavirus Interruption Loan Scheme, any other COVID 19 grants or other grants, any other income; cost of wages and salaries, PAYE/NI costs, pension costs, employee expenses, HP payments, corporate credit card payments due, non-stock supplier direct debits, supplier direct debits, bank term loan repayments, bank charges & Interest, Supplier payments, any other monthly payments, overdraft limit.
Your application will not be successful if you are applying on behalf of a non-supported sector: Gambling and betting activities, manufacture, repair or distribution of weapons and ammunition, manufacture, repair or distribution of military fighting vehicles.
We will update this page as soon as more information becomes available.