nedcottfunding.com | ENTREPRENEURIAL RELIEF GRANT

nedcottfunding.com | ENTREPRENEURIAL RELIEF GRANT

Micro and Small Enterprises that have been negatively impacted by the COVID-19 pandemic are invited to apply for the Entrepreneurial Relief Grant from the Ministry of Finance in collaboration with NEDCO via nedcottfunding.com

vMSEs that earn less than TT $1,000,000 in annual revenues, and have been negatively impacted by the global pandemic, can apply for financial help through the Entrepreneurial Relief Grant Programme. MSEs can access up to TT $20,000 in grant funding to help cover business-related expenses such as salaries, rent, stock and other working capital.

Are there basic requirements that must be met to qualify for the Entrepreneurial Relief Grant?

• You must have an existing business.
• Your business must have an annual revenue of less than TT$1 million
• You must be a citizen or legal resident of Trinidad and Tobago.
• You must be 18 years and over.

Where do I apply for ENTREPRENEURIAL RELIEF GRANT?

• You can only apply online at www.nedcottfunding.com

What type of businesses can apply?

• All legal businesses can apply via nedcottfunding.com

Can I apply as an individual or must I apply on behalf of a business?

• Sole traders, partnerships and limited liability companies can apply.

If I own more than one business can I apply for all?

• No. You can only apply for one business even if you own more than one.

If the business is owned by more than one person can the different owners apply separately for the same business?

• No. Only one application per business is allowed. apply via nedcottfunding.com

Will I have to repay the grant?

• No. A grant does not have to be repaid.

Which personal documents do you need to provide?

• Two forms of valid Trinidad and Tobago identification including national identification card or ID card, passport or drivers permit
•  If you have only one form of identification, then you must produce your original birth certificate as your second form of identification.

Which business related documents will you need to provide?

• Certificate of Registration and/or proof of assignment of BIR number.
• Proof of business operations including receipts, invoices, contracts
• Proof of address

Will I qualify for the grant if I have an unregistered business?

• You can start the application if you have an unregistered business but you must register your business by applying for and being assigned your Board of Inland Revenue (BIR#) number to receive funds.

What should I do if I do not have a BIR number?

• You can start the application if you do not have a BIR number but you must register your business by applying for and being assigned your Board of Inland Revenue (BIR#) number to receive the grant funds.

Can I apply if I have already received other government assistance grants?

The objective of the Trinidad and Tobago government is to ensure that as many persons as possible receive assistance. Therefore the Entrepreneurial Relief Grant has been reserved for persons who have not received other grants.

• Individuals in receipt of unemployment relief benefits, food cards or other social relief benefits are not eligible.
• Individuals in receipt of Tobago House of Assembly grants are not eligible.

 I have applied for the Ministry of Social Development grant, but I have not received any payments to date. Can I still apply?

• You can apply but you must first withdraw your application from other government assistance grants.

How is the grant amount calculated?

• Each application is assessed on a case by case basis and the amount approved will depend on several factors including the level of the company’s income pre-COVID-19, the number of employees, overhead costs and the overall negative impact upon the business operations.

 After applying for the grant, can I be denied?

An application will be denied for the following:

• You are not a citizen or legal resident of Trinidad and Tobago.
• You are not 18 years and over.
• You do not have an existing business.
• Your business earns more than TT $1 million in annual income.
• You do not have a legal business.
• You have already received assistance from other social relief grants.
• You have already received a Tobago House of Assembly grant.
• You have pending/current criminal court proceedings.

 How will I know if I was successful?

• Applicants will be contacted when payment has been processed. You can also call the Entrepreneurial Relief Grant Hotline at 821-5800 Option 6 for an update on your application.

 When will I know how much I am receiving?

• Applicants will be contacted when payment has been processed. The NEDCO representative will indicate the amount approved and when the funds will be transferred to your bank account or when your cheque will be ready for collection.

I wasn’t able to successfully submit my application online. What should I do?

• Some applicants are unable to submit their online application because of the following reasons:
  • Persons are attempting to submit attachments which are greater than or equal to the 3MB size limit on attachments.
  • Persons are attempting to submit zip files.
  • All the mandatory fields on the application form were not filled out.
  • Applicants are using mobile phones with low data and spotty service coverage which are not sufficient to support an application with several attachments.
• Solutions:
  • Applicants must check that each attachment is less than 3MB. If any attachment is greater than or equal to 3MB, the online application would not be accepted. Applicants need to compress any attachment that is greater than or equal to 3MB to reduce it in size. If required, there are many free online apps which can be used to compress the required attachments.
  • Only Word, Excel, PDF & Image files are accepted (pdf, doc, docx, xls, xlsx, csv, jpg, jpeg, and png).
  • Applicants must make sure that all mandatory questions are answered. These are the questions with the asterisk (*) next to them.
  • It is recommended that applicants use a computer or mobile device with a WiFi connection.

What is the maximum amount that is allowed?

• The maximum allowed is $20,000.00

What happens after I submit my application

• Each applicant will be contacted by a NEDCO representative who will review the application and verify the documents submitted. The verification process will include a site visit, which may be virtual. Upon completion of the verification exercise, the application will be forwarded for the processing of the grant amount approved.

Will I be contacted if I am unsuccessful?

• Yes. You will be contacted.

How long after I submit my application will a representative contact me?

• Applications are processed chronologically. You will be contacted when your application reaches the evaluation team.

 I made an error in my application, should I resend another one with the correct information

• Only your first application will be used. Subsequent applications will not be reviewed. Each applicant will be contacted by a NEDCO representative who will review the application. At this point, any clarification or additional information required can be raised with the NEDCO representative.

 I am getting an “Invalid Token” error message when I attempt to submit my application. What should I do?

• An “Invalid Token” error message is received if an online application timed out.
• Solutions:
  • Applicants should get all their attachments ready before beginning the application.
  • Before reapplying, applicants MUST clear their browsing history and cache, close the web browser, reload a fresh browser, then go to the www.nedcottfunding.com website and reapply.