The second round of funding will reopen on Monday 17 August at 10am and will close, in line with Government guidance, on Friday 28 August at 4pm.
The scheme is offering free grants to city businesses who have 50 or less employees, including home based businesses, and businesses in properties above a rateable value of £51,000 in the city, who have not received a grant from earlier Government schemes.
It is aimed at small businesses who have seen trade and sales drop significantly due to the impact of Covid-19, provided they meet the eligibility criteria.
Businesses MUST demonstrate they are a registered business, were trading as at 11 March, 2020, and show loss of income and property costs such as mortgage or rent.
Full details of the eligibility criteria, evidence required and a link to the application form are available at Discretionary Grants Fund – Round 2.
The scheme provides support for small businesses who have been ineligible for previous Government grants such as the Small Business Grant and the Retail, Hospitality and Leisure Grant.
The Government initially awarded City of Wolverhampton Council £2.3 million for the Discretionary Grant Scheme, with more than 200 eligible businesses so far awarded grants across both funding rounds.
The council will continue to operate the scheme on a first come, first served basis until the fund is exhausted.
Councillor Stephen Simkins, Cabinet Member for City Economy, said: “The Government has now set a closing date of 28 August for this scheme, which means we will be unable to accept any new applications after this date.
“It is really important that businesses provide key evidence at the point of applying as time is now limited.
“Many of our struggling businesses, particularly the home based ones, will not have qualified for previous Government grant schemes, which is why it is critical they take advantage of this opportunity now.
“These second round grants are to support those small businesses which have been hit hard by the impact of coronavirus – and help them retain as many employees as possible.
“These businesses are the bedrock of our local economy and our local community and these grants could prove critical in their recovery and that of the city.
“I would urge businesses to check the guidance and submit their applications as soon as possible with the final Government deadline looming.”