| answer text |
<p>Officials are working at pace to deliver the measures for small businesses as announced
by the Chancellor. The Coronavirus Business Interruption Loan Scheme, which will provide
financing facilities for SMEs of up to £5 million, was launched Monday 23 March. The
Business Secretary will write to all Local Authorities by the end of the week with
information on the small business grant scheme, and to encourage them to prepare to
deliver this quickly. Detailed guidance for Local Authorities will follow by 1st April,
and Local Authorities will then write to all eligible businesses with information
on how to claim this grant.</p><p>We will give small businesses in the retail, hospitality
or leisure sectors a higher grant of £25,000 per business if they have a property
that has a rateable value between £15,000 and £51,000. Properties in those sectors
with a rateable value of £15,000 or less will receive a £10,000 grant even if they
are not eligible for small business rates relief. It will be administered in the same
way as the small business grant scheme.</p><p> </p>
|
|
