The council is currently distributing £2.4 million in grant support through a local discretionary business grant.
The Hull Business Discretionary Grant Fund is to help small businesses and charities not eligible for two earlier rates related grants – the Small Business Grants Fund and the Retail, Hospitality and Leisure Grants Fund.
An online application form on the council’s website saw about 300 applications from charities, market traders and other business owners in the first week.
The fund will allow small businesses and charities that have suffered loss of income due to Covid-19 to apply for grants of up to £10,000.
The discretionary fund is aimed at small businesses with ongoing fixed property-related costs. It will prioritise businesses including those in shared or flexible workspaces without their own business rates assessment, regular market traders with fixed building costs and small charity properties in receipt of charitable business rates relief.
Other small businesses with fewer than 50 employees and which missed out on the earlier schemes, such as those in properties with rateable values between £15,000 and £51,000, can also apply.
This scheme is limited to one grant per business. For more information, email email@example.com.
Councillor Daren Hale, deputy leader of Hull City Council, said: “The council has already distributed more than £40 million to support thousands of businesses in Hull.The two earlier rates-related grants were based on having a business rates assessment, which unfortunately excluded a number of businesses from accessing grant support.
“Although the top-up funding provided for this new scheme is more modest, it could provide a lifeline for those businesses that are not eligible for the existing schemes.
“The council has chosen to award the grant at a maximum level of £10,000 per grant to maximise the number of businesses which can be supported. In many cases, the grant, if awarded, will be under £10,000.
“The level of the award will be determined in a fair and transparent manner in accordance with national and local criteria.”
Apply for the Hull Business Discretionary Grant and find more details here.