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Pivotal Enterprise Resilience Fund reopens Thurs 14th May

Chamber News, Member News 13th May 2020

this fund will re-open for new applications from mid-morning on Thursday 14 May 2020. The volume of new applications will be closely monitored and we expect full capacity to be reached quickly. It is anticipated that it will close at 5pm on Monday 18 May.

What does this involve?
This grant is for businesses that can play a critical role in supporting Scotland’s recovery but need some immediate support. It might be to get back up and running or to maintain or diversify your current operations.

If you can maintain your productive capacity and support employment, then this grant is for you.

Am I eligible?
You must meet these criteria in order to apply:

Your company has up to 249 employees that have been trading successfully before Covid19
Less than €50 million turnover or balance sheet total of €43 million
Can demonstrate the funding will support business to be viable
You were not in financial difficulty before 31 December 2019
You are a Fair Work employer or working towards becoming a Fair Work employer
You have a business bank account
What does this cost?
​There is no cost to apply.

Who is this for?
This is for businesses that will make an impact on the Scottish economy on a local, regional or national level. Businesses must be involved in or meet the following conditions:

Can drive economic prosperity through wages, employment, exports, supply chain etc
Be a supplier or potential supplier to NHS or other COVID-19 vital services
A supplier to other essential businesses
Can scale up or diversify due to COVID-19 opportunities
Have a plan to continue to trade in the coming months, taking account of any hibernation or reduced operations as a result of Covid-19
Can use the grant for working capital to help meet a cash flow gap or can be used to augment other funding from Government and other sources
Can use the grant to contribute to cashflow items e.g. rent, wages, directors’ salaries, heat, light and power, materials, transport, financing costs-VAT/HMRC, creditor payment
How long does this take?
It will take up to 10 working days from application and appraisal to funds being released for approved applications.

Also, your particular circumstances and how these relate to your local area, region or industry will be taken into account. Your impact in terms of employment or effect on other local or regional business will be looked at.

The process is:

If you meet the eligibility criteria your application will be reviewed
Successful applicants will be notified
They must formally accept the offer within 3 days
Money will then be paid 100% upfront
Important information
If you are successful, you MUST accept the offer in 3 working days. So please make sure to do this.

It is also really important that that you can prove you are eligible for this fund.

Before you apply, you must meet some criteria and have information to hand. You will need to:

meet our stated eligibility criteria
have a business bank account
provide a bank statement from your business bank account that is less than three months old
provide a Companies House registration number if you are a registered business
provide a VAT registration number if you are registered for VAT
provide the following information to complete a 12 month cash flow table: any invoicing discount drawdown, net debtors receipts, VAT, funding from Coronavirus Job Retention Scheme, funding from Coronavirus Interruption Loan Scheme, any other COVID 19 grants or other grants, any other income; cost of wages and salaries, PAYE/NI costs, pension costs, employee expenses, HP payments, corporate credit card payments due, non-stock supplier direct debits, supplier direct debits, bank term loan repayments, bank charges & Interest, Supplier payments, any other monthly payments, overdraft limit.
Your application will not be successful if you are applying on behalf of a non-supported sector: Gambling and betting activities, manufacture, repair or distribution of weapons and ammunition, manufacture, repair or distribution of military fighting vehicles.

Next steps
First of all, read our detailed guidance notes for applicants

Here’s what to expect when you start your application. You will have to:

fill in a Pre-Application form
select the fund you wish to apply for
set up an account using your email address
wait for an email confirmation to arrive in your email account
there may be a delay before the confirmation email arrives due to the high number of applications
once the email arrives in your inbox, click on the link to confirm and set your password
you can now continue with your application
Once again, please make sure to read this detailed guidance notes for applicants before you visit our partner site to start your application.

We apologise for the technical issues people have experienced in submitting applications to this Fund.

LATEST UPDATE: this fund will re-open for new applications from mid-morning on Thursday 14 May 2020. The volume of new applications will be closely monitored and we expect full capacity to be reached quickly. It is anticipated that it will close at 5pm on Monday 18 May.

From Twitter

Thanks for excellent session today with @jamiehepburn opportunity for business leaders to discuss latest #COVIDー19 responses on Sector Support, Business Redesign, Higher Education, #DigitalConnectivity #skills and developing #Youngworkforce @scotgoveconomy pic.twitter.com/o9TRdBUMX8

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