And businesses are being urged to act fast to ensure they lodge their online application before the deadline at 11.59am on Monday 8 June.
The scheme provides financial support for ‘micro’ businesses and certain other small firms which have been impacted by coronavirus but have been ineligible for other Government help.
Full details of which businesses are eligible are available at Discretionary
The Wolverhampton scheme prioritises those businesses in the city which have a small workforce, operate in shared premises, are regular market traders, small charities and bed and breakfasts that pay council tax rather than business rates.
Central Government has awarded City of Wolverhampton £2.3 million for the scheme – but firms are encouraged to get their applications in quickly because demand is expected to exceed the available funding.
The council will operate the scheme on a first come, first served basis until the fund is exhausted.
Details on the criteria can be found at Discretionary Grants Fund.
Councillor Harman Banger, City of Wolverhampton Council’s Cabinet Member for City Economy, said: “We’ve had a great response so far from businesses to the new grants scheme and I would encourage others to act fast to submit their applications before the deadline.
“These grants are to help those small and micro businesses which have been hit hard by the impact of coronavirus but have previously been unable to access other Government grants.
“Many of these sorts of firms have very small numbers of employees and often operate out of shared premises with other similar businesses. They are often start ups, the entrepreneurs who provide energy and innovation to our economy and which grow to become bigger employers and wealth creators.”
Corin Crane, Chief Executive of the Black Country Chamber of Commerce, added: “We know these small and micro businesses, many of which have had to shut their doors or massively scale back their activities due to coronavirus, are desperate for help towards some of their costs.
“I’m delighted that City of Wolverhampton Council has launched a scheme to help this sector which is so important for the recovery of the local economy.”