Businesses across Neath Port Talbot and the rest of Wales can now find out if they are eligible to apply for funding from the next phase of the Welsh Government’s Economic Resilience Fund (ERF).

They can use this link https://fundchecker.businesswales.gov.wales/ to find out if they qualify for support from this phase of the fund with applications being accepted by the end of the month.

The ERF is designed to support businesses, social enterprises and charities, which are not eligible for other Welsh Government and UK Government support schemes.

The next phase of the fund will enable businesses to access a further £100m of financial support. It is being targeted at microbusinesses, SMEs and large businesses of critical economic importance, which have yet to receive financial assistance from the ERF.

Councillor Annette Wingrave, Neath Port Talbot Council’s Cabinet Member for Regeneration and Sustainable Development said:

“We would urge businesses across the county borough to check if they are eligible for some of this substantial money aimed at sustaining businesses through the health emergency.”

Economy, Transport and North Wales Minister Ken Skates said:

“Our package of support for Welsh business has been absolutely vital in supporting thousands of firms through these exceptionally difficult times.”

Close to £200m has now been provided to businesses from the Economic Resilience Fund with all applications being processed.

Use of the online eligibility checker (link above) will allow companies time to prepare their applications, ahead of the fund re-opening for applications at the end of this month.

Mr Skates added:

“This next phase will reach businesses which have yet to receive funding but we know it won’t reach all those in need. We are proactively working on further options, but it is clear we need the UK Government to step up and provide the longer-term and additional funding needed to see Welsh business through this pandemic.”

This latest phase will operate in broadly the same way as the first phase but with an update to the eligibility of the micro scheme. This will enable limited companies which are not VAT registered to access the fund, subject to other criteria being met.

Large businesses, which have suffered more than a 60% reduction of turnover since 1 March 2020 may also qualify for funding if they meet other conditions.

A further £10m has been available from the ERF to support larger firms.

To date, almost £200m of ERF funding has been distributed to companies across Wales, supporting a wide variety of businesses to deal with the impact of coronavirus.

This includes the Development Bank of Wales’s loan scheme element of the fund which has seen more than £90m offered or invested in 1,300-plus firms.

Work is continuing to develop further options to support those businesses, which have not yet been able to access help, such as start-up firms not eligible for the UK Government’s Self Employment Income Support Scheme.