What is a Business Grant?
Grants are non-repayable funds or products disbursed or given by one party (grant makers), often a government department, corporation, foundation or trust, to a recipient, often (but not always) a non-profit entity, educational institution, business or an individual.
The grants listed below are aimed at the local business community, they will each have their own criteria, so it is worth taking the time to read what is eligible to be applied for.
The Recovery Loan Scheme
Launched on 6 April 2021, the Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they recover and grow following the coronavirus pandemic.
You can apply to the scheme if Covid-19 has affected your business. You can use the finance for any legitimate business purpose – including managing cashflow, investment and growth. However, you must be able to afford to take out additional debt finance for these purposes.
If your business has already borrowed from any of the other coronavirus loan schemes – namely:
- the Bounce Back Loan Scheme (BBLS)
- the Coronavirus Business Interruption Loan Scheme (CBILS)
- the Coronavirus Large Business Interruption Loan Scheme (CLBILS)
RLS is still open to you, although the amount you have borrowed under an existing scheme may in certain circumstances limit the amount you may borrow under RLS.
RLS will run until 31 December 2021, subject to review.
Low Carbon Workspaces – Grants of up to £5k for Energy Efficiency
Projects in Hertfordshire
Low Carbon Workspaces (LCW) are offering grants of up to £5,000 to help SMEs in Welwyn Hatfield
to subsidise the cost of upgrading equipment to improve energy efficiency, lower energy bills, and
improve the overall quality of their premises. Grants are available to help fund up to a third of the
cost of energy saving projects such as, equipment upgrades, heating and cooling upgrades,
Insulation, glazing, and solar panels.
The programme has already awarded grants to more than 200 businesses in Hertfordshire, including
to Stickleback Fish Co who used a LCW grant to install modern efficient condensers reducing their
energy bills by 50%.
If you are looking to reduce energy costs or improve the green credentials of your business, please
get in touch with LCW team.
Check out the grants available in Hertfordshire
New funding has been made available by the Government and allocated to Growth Hubs to help smaller businesses recover and rebuild following the effect of the COVID-19 pandemic. Click below to view what’s available.