Businesses in North have been closed now for three months over Coronavirus
The scheme was set up by the Department of Finance.
It is expected to help over 1,100 businesses across a range of sectors including retail, childcare and manufacturing.
To be eligible, a business must occupy a large commercial premises with a net annual value of over £51,000 and have qualified for 12 months rates holiday.
It has been funded by some of the money that had not yet been spent by Stormont, which was at risk of being handed back to the Treasury.
“This new grant scheme will make available more than £50m of financial assistance to hundreds of businesses across a wide range of sectors including childcare, retail, manufacturing, hospitality, tourism and leisure,” Finance Minister Conor Murphy said.
“I hope this one-off grant will help these businesses which didn’t qualify for previous grant schemes.”
Applications will close on Wednesday, May 5, with payments expected in June.
Airports, food retailers, petrol stations and sports clubs are not eligible, nor any businesses that received or is entitled to receive money from the Department for the Economy’s Large Tourism and Hospitality Business Support Scheme.
Tags: