Tenerife Cabildo allocates another four million euros as aid for SMEs

2020/08/02 08:12:15 Written by Canarian Weekly Business

The Tenerife Cabildo will open a new line of aid aimed at helping towards the consequences that the crisis, caused by the coronavirus, has left on the island's micro-businesses and self-employed.

The aim is to be able to meet all the applications for help they received when when the aid was first announced.
Initially they made 4.3 million euros available, but had 7,000 applications for support, so have now granted a further 4 million to meet demand.

The insular councillor for Employment, Socioeconomic Development and Foreign Action, Carmen Luz Baso, explained in plenary on Friday in response to a question asked by the Partido Popular spokesperson, Zaida González, that the micro and SMEs that applied at the start, but haven't received any aid, may re-apply but their documentation will not be required again.

In addition, micro-companies with up to five employees and professionals on their books, who didn't apply before, may also register.
Applicants must have had to suspend their activity due to the state of alarm, and have seen their income for March decrease by more than 60% compared to the monthly average of the previous semester.

Baso assured that the objective of this "is to be able to attend to the entire business fabric" and that the beneficiaries "can count on aid before the end of the year."

Baso pointed out that first they will have to verify that the more than 7,000 applications meet the requirements, then those that comply will be sorted according to their accounts, and aid will be delivered, which is up to a 1,000 euros, until the funds are exhausted.
The applicants that are left out will be eligible for the second call together with those micro-companies and self-employed of new application.