NEDCO offers covid19 relief grants to small businesses

The National Entrepreneurship Development Company Ltd (NEDCO) has launched its entrepreneurial relief grant as part of Government’s national covid19 relief efforts.

A statement from NEDCO said the grant will provide financial assistance to micro and small enterprises (MSEs) that earn less than$1 million in annual revenues and were negatively impacted by the coronavirus pandemic.

Affected MSEs can access up to $20,000 in grant funding to help cover business-related expenses such as salaries, rent, stock and other working capital.

NEDCO said applicants had to meet the criteria to qualify for the grant.

Business owners must be a citizen or legal resident of TT 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 $1 million in annual income; any type of legal business can apply, including sole traders; applicants who received other covid19 relief benefits are not eligible for the entrepreneurial relief grant; applicants with pending or current criminal court proceedings against them will not be eligible.

NEDCO also advised that the following documents must be submitted to apply for the grant: two forms of valid TT identification and personal Board of Inland Revenue (BIR) number; certificate of registration and/or proof of assignment of a business BIR number; proof of business operations; proof of address.

Interested micro and small enterprises can visit www.nedcottfunding.com for further information, to check their eligibility for the grant and to apply, the release said.