Funding Against Losses

Financial Support as a Result of Losses Due to COVID-19

A range of support is available for travel and tourism related businesses that have suffered a significant reduction in turnover as a result of the Island’s border restrictions. This includes:

• Grants of up to £3,000 for self-employed businesses in the travel and tourism sector (excludes visitor accommodation, except campsites without glamping)

For more info, see: Coronavirus Business Support Scheme

• 50% funding for travel and tourism businesses who are looking to innovate and adapt their business model to seek new avenues of business and/or provide their products or services in a new way

For more info, see: Coronavirus Business Adaptation Scheme

• A grant of up to 50% towards the demonstrated short term forecasted cash flow requirements for items such as salaries and overheads

For more info, see: Financial Assistance Scheme, Appendix 10

• Funding for eligible tourist accommodation providers to cover fixed overheads over the winter months

For more info, see:  Coronavirus Strategic Capacity (Tourist Accommodation) Scheme

Financial Support for Businesses Financially Affected by the Douglas Promenade Refurbishment Scheme

An unsecured interest free loan of up to £50,000, repayable over 10 years to eligible retail and hospitality businesses (excluding visitor accommodation, unless they have a restaurant open to the public), located on Douglas Promenade, which have been financially affected by the Refurbishment Scheme.

For more info, see: Douglas Promenade Support Scheme

If you would like more information on the above schemes and to find out if you’re eligible to apply, please call the Enterprise Support Team on 01624 687333 to discuss your options*

*Terms and Conditions apply across all schemes