£24.7 million to Argyll and Bute businesses

The Business Support Fund encouraged grants for up to £10,000 and £25,000

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More than £24.7 million has been awarded to businesses across Argyll and Bute from the Business Support Fund announced in the wake of lockdown.

The Scottish Government unveiled the fund in March with it being administrated locally by Argyll and Bute Council.

Figures accurate to Thursday May 13, show that a total of 2,256 grants have been awarded, culminating in £24.73 million of state aid.

Depending on eligibility, businesses could apply for grants of either up to £10,000 or £25,000.

Figures show that 2,785 grants had been received by the council with 2,519 processed so far, said the Bid4Oban group.

The council has also been handling applications for those applying to the Newly Self-Employed Hardship Fund.

It can provide a one-off payment of £2,000 for those who became self-employed, on or after April 6, who had fallen through the gap for other help.

A total of 95 applications had been received under the self-employed fund with 58 grants awarded and £116,000 paid out, said Bid4Oban.

The council said it is currently on track to meet the 10 working days ‘processing target’ from the receipt of a fully-completed application.