Pivotal Enterprise Resilience Fund
Eligibility Criteria for the Pivotal Enterprise Resilience Fund
– You have fewer that 249 employees as part of a business that has been trading successfully before COVID
– You have less than £43.689m turnover and less than £37.572m balance sheet value
– You can demonstrate that the funding will support the business viability
– Your business was not in financial difficulty prior to 31 December 2019 (follow this link for the definition)
– You have a business bank account
– You can provide evidence that your business makes an impact on the Scottish economy on a local, regional or national level by:
~ Driving the economy through wages, employment, exports or supply chain
~ Supplying, or potentially supplying the NHS or another frontline COVID service
~ Supplying other essential businesses
~ Ability to scale up or diversify due to COVID business opportunities
– You will use the grant for working capital only – contributing to rent, wages, heat/light, VAT/HMRC, creditor payments etc
Applicants must provide:
• Bank details
• Prior year financial information
• Last year’s audited accounts or latest management accounts
• 12 month cash flow projection
• Information on any COVID financial funding you are in receipt of
• Explain in what way you are pivotal to the economy
• Explain how you are going to use the funds
When completing the online form you will need to follow these steps:
• 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
Processing
Your application will be reviewed and successful applicants will be notified.
They must formally accept the offer within 3 days.
Money will then be paid 100% upfront.
The time from application to funds being paid out will be 10 days.
Apply for the Pivotal Enterprise Resilience Fund
If you have any questions and require support in preparing accounts and/or cash flow projections, please do get in touch.
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