As part of the Government of Montserrat’s COVID-19 stimulus package, eligible businesses in the tourism sector who qualify can apply and receive a cash grant of no more than ten thousand dollars (EC$10,000.00).
This package of support is being implemented by the Ministry of Finance and Economic Management (MoFEM) in response to the COVID-19 induced hardship being faced by businesses and individuals, who are experiencing difficulty maintaining operations; especially in areas of tourism, transport, and restaurants.
This package will provide a direct cash grant (one-off) to the business, to a maximum of $10,000. This can be used to cover rental payments, utility payments and other such related overhead business costs. However, applicants are asked to note that this grant cannot be utilised for loan payments.
This fiscal support package will be offered for three months in the first instance. Applicants should also note that the size of the grant awarded will be based on actual receipts for rental, utility or other similar expenses since the 1 st of April 2020, for the next three months. Evidence MUST be provided in order to receive funds.
This programme is targeted at sectors most impacted by COVID-19 with special consideration for companies for whom the majority of their income is earned in the following services:
- Tourist accommodation providers;
- Tour operators, including both land- and marine-based;
- Transportation services;
- Restaurants, and
- Other tourism-related businesses
Once successful, payments will be made directly to the business’ Bank Account to allow them to continue to make payments.
Applications can ONLY be made electronically, by completing the ‘Application Form – COVID Related Financial Support One Off Grant (Tourism) at the following google docs link: https://forms.gle/awdQc7t9ZaYTR7bo6 or by downloading the ‘Application Form – COVID Related Financial Support One Off Grant (Tourism) from the Government website, at the following link: http://www.gov.ms/pubs/ministry-of-finance/
Once completed the form must be submitted electronically to MoFem.Gom@gmail.com.
The deadline for applications to be submitted is Friday May 8, 2020.
The following information is required in order to process the application.
- Name of the business
- Name of registered owner
- Tax registration number
- Evidence of invoice or receipts for payments made
- Confirmation of business account number into which the funds should be transferred.
Applications will be assessed using existing tax and other records and owners may be asked for further supporting information to support their claim.
Owners must also provide a declaration that more than 75% of the business’ income is derived from the profit of their business in an eligible sector. To be clear, this incentive only applies if your major source of employment income is from the Tourism Sector.
The application will be processed and payment made within ten business days to your business bank account. The bank account details must be provided as no cash payments will be made. Payments will be made directly to the business’ Bank Account to allow them to continue to make the payments for the qualified/valid expenses.