Businesses on Montserrat facing financial difficulties due to COVID19 measures, can now apply for a direct one-off cash grant, up to a maximum of ten thousand Eastern Caribbean dollars ($10,000). Businesses that received assistance previously are not required to re-apply as their details are already in the system.
The Government of Montserrat, through the Ministry of Finance and Economic Management has announced this additional package of assistance, as they continue to cushion the economic impact businesses have faced as a result of COVID-19.
To benefit under this package, more than 75% of the business’ income must be derived from the profit of the business. This incentive will therefore only apply if your major source of employment income is through the business.
The MoFEM further explained that the grant will support specified expenses based on a three month period. “This package will provide a direct cash grant to the business to a maximum of $10,000 (in total) over a one month period. The basis of the award is on average bills for the period October, November, December, not on payments made,” stated the Ministry.
The grant can only be used to cover rental payments, utility payments and other such related overhead business costs, such as monthly insurance payments. Therefore, applicants are asked to note, that the grant cannot be utilised for loan payments or general expenditure.
Additionally, applicants should note that the grant will only cover expenses being submitted for your business costs and not those for your home/house.
Please note, if assistance was received under this programme in 2020, those businesses should not reapply. Assistance will be offered to eligible businesses to a sum equivalent to one month of the total business grant assistance received under the last programme.
To apply for Support
Applications can ONLY be made using this form ‘Application-Form-COVID-Related-Financial-Support-One-Off-Grant-Businesses-2021’.
Once completed the application must be submitted electronically to MoFem.Gom@gmail.com.
Alternatively, the form can be accessed via the following direct link GOM Publications Portal – Government of Montserrat (www.gov.ms)
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 bills
Confirmation of business banking account number into which the funds should be transferred.
Owners may be asked for further supporting information to support their claim.
Once a completed application is received and approved, payment will be made within 10 to 15 business days to your business bank account—no cash payments will be made.