£2m high street fund bid launched
Birmingham City Council is set to bid for a tenth of the government's £20m High Street Recovery fund.
The council said it would ask for £2m of the government resource which was announced as a measure to help businesses affected by the rioting earlier this month.
Financial support will be provided to local businesses who suffered damage, loss or closure as result of the disturbances across two key areas, said the council.
Companies in need of business rate hardship relief after the results of the disturbances between 6 and 11 August will be assisted with grants, and the council said it will establish a financial recovery scheme.
Through the scheme, loans will be made available to small and medium sized business with less than 250 employees and a turnover below £11.2m.
Cash can be used to cover hire costs for temporary accommodation; clean up and emergency repairs, said the council.
