The National Entrepreneurship Development Company Limited (NEDCO) has announced the launch of the Entrepreneurial Relief Grant from the Ministry of Finance in collaboration with NEDCO.
The relief grant is being offered by government to provide financial assistance to micro and small enterprises (MSEs) that earn less than TT $1million in annual revenues and 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.
Applicants must meet the following criteria to qualify for the Entrepreneurial Relief Grant which will be administered by NEDCO:
· 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;
· Applicants with pending or current criminal court proceedings against them will not be eligible.
The following documents must be submitted to apply for the Entrepreneurial Relief Grant:
• 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.
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.