The Ministry of Finance has officially launched an Entrepreneurial Relief Grant for those micro and small enterprises (MSEs) that have been hard hit by the COVID-19 pandemic.
The Grant will be administered by NEDCO, the National Entrepreneurship Development Company Limited.
According to a news release issued by NEDCO, the relief grant will provide financial assistance to micro and small enterprises (MSEs) that earn less than TT $1,000,000 in annual revenues, which were negatively impacted by the COVID-19 pandemic.
“Affected MSEs can access up to TT $20,000 in grant funding to help cover business-related expenses such as salaries, rent, stock and other working capital,” the release explains.
NEDCO has outlined the various criteria MSEs must meet, in order to qualify for the Entrepreneurial Relief Grant:
■ Business owners must be a citizen or legal resident of Trinidad and Tobago and be 18 years and over;
■ Applicants must have an existing business to apply;
■ Unregistered businesses can apply, but applicants must register their company before funds are disbursed;
■ The business must earn less than TT $1 million in annual income;
■ Any type of legal business can apply, including sole traders;
■ Applicants who received other COVID-19 relief benefits are not eligible for the Entrepreneurial Relief Grant; and
■ Applicants with pending or current criminal court proceedings against them will not be eligible.
Interested micro and small enterprises are invited to visit www.nedcottfunding.com for further information, to check their eligibility for the grant and to apply.
MSEs wishing to apply for the Entrepreneurial Relief Grant must submit the following Personal and Business documents:
|PERSONAL DOCUMENTS||■ Two forms of valid Trinidad and Tobago identification; |
■ Personal Board of Inland Revenue (BIR) number.
|BUSINESS DOCUMENTS||■ Certificate of Registration and/or proof of assignment of a business Board of Inland Revenue (BIR) number; |
■ Proof of business operations;
■ Proof of address.