Businesses in Louth should move quickly to avail of the new Restart Grant Plus, launched earlier today by An Tanaiste Leo Varadkar, with maximum grants of €25,000 available, according to Cathaoirleach of Louth County Council.
The expanded Restart Grant Plus scheme will see an additional €300m in funding made available to commercial rates paying businesses, in addition to the €250m previously committed to the scheme which first rolled out in May.
A total pot of €250 million was first made available to local authorities across the country as part of the government response to helping small businesses who were forced to close or eligible businesses who remained open but in difficult financial circumstances. As part of the July Stimulus announced late last month, a further €300 million was made available as part of an enhanced Restart Grant.
When first announced in May, the grant allocation was based on an enterprise’s commercial rates bill for 2019 with a minimum payment of €2,000 and a maximum payment of €10,000 available. Now, the maximum grant available will rise to €25,000 and the minimum payment will be €4,000.
Speaking to LouthNow.ie today (Monday August 10), Cllr Minogue said; “I welcome this mornings launch of the Restart Grant Plus scheme, which will provide a minimum grant of €4,000 up to a maximum grant of €25,000 for businesses which have been adversely affected by Covid-19.
“Similar to the earlier restart grant scheme, it will be administered by Local Authorities. I would encourage all affected businesses to apply,” she added.
Last week, LouthNow.ie reported that just 25% of commercial ratepayers in county Louth have lodged eligible applications for the business Restart Grants. Of 4,500 properties on the rate books of Louth County Council – only 1,526 applications have been received. 389 of them were rejected due to being duplicate applications or ineligible.
Businesses eligible for accessing the enhanced Restart Grant scheme include those with 250 employees or less, turnover of less than €100,000 per employee and reduced turnover by 25% as a result of COVID-19.
Fergus O’Dowd TD said: “The Restart Grant Plus is a key part of the government’s July Stimulus package, a €7.4bn package of measures designed to stimulate a jobs-led recovery and build economic confidence while continuing to manage the impact of Covid-19.
“The Grant amount has increased substantially. The minimum grant available is now €4,000 up from €2,000 previously. The maximum grant available is €25,000, a significant increase from €10,000 previously. More businesses could now find themselves eligible for this grant than before, and key Businesses that received a grant under the first scheme can re-apply to receive additional funding.
O’Dowd added “I would encourage all of our local companies with up to 250 employees to apply through Louth or Meath County Councils.” Businesses in Louth can get more information on the Restart Grant here.
The Department of Business, Enterprise and Innovation has established a Business Support Call Centre for information on the business supports available to businesses and enterprises affected by COVID-19. It can be reached at [email protected] or (01) 631 2002.