Another new aid for the self-employed and SMEs in Tenerife

The Tenerife Cabildo has launched a second aid plan for SMEs and self-employed on the island, with a total of 9 million euros available in amounts ranging between 1,500 and 6,500 euros, to cover business operating expenses such as rent, insurance or staff.

The aid was announced at a press conference by the president of the Cabildo, Pedro Martín, and the insular councillor for Socioeconomic Development, and Employment, Carmen Luz Baso, who have stressed that the beneficiaries may not be subject to tax payments on what they receive.

"We do not want to bury them any further," he stressed, also saying that these grants are compatible with, or in addition to, others from the Cabildo or from other institutions.

These grants, whose deadline is October 8^th for submitting applications, will be processed through Fifede, who have hired 11 people to work exclusively on this program. To qualify for this aid, companies cannot have more than 11 workers or a turnover of more than 2 million euros.

Martín highlighted that one of the objectives of the Cabildo is to give "agility" to the granting of aid, and in fact, he said that as soon as a company or a self-employed person meets the basic requirements, they will receive the funds.

Since the deadline was opened, more than 1,600 freelancers and SMEs have already submitted applications, mainly from the commerce and hospitality subsectors, plus others such as hairdressers, gyms, and taxi drivers.