A Liverpool Music Industry Support Fund has been created to offer financial support to businesses within the Liverpool City Region Music sector who are at risk due to the challenges brought about by Covid-19.
Funded by the LCR Combined Authority’s Strategic Investment Fund, £150,000 is currently available and will be managed by the UNESCO City of Music Officer based in Liverpool City Council. The Fund will be overseen by the Liverpool City Region Music Board.
Liverpool City Region covers the Local Authority areas of Halton, Knowsley, Liverpool, Sefton, St Helens and Wirral. You can find out if a particular postcode is in these areas at gov.uk/find-local-council.
Who is eligable to apply for the Liverpool Music Industry Support Fund?
To be eligable to apply the business has to be a micro buisness or SME which is directly related to the music sector, with its head office located within the Liverpool City Region.
The business needs to be able to demonstrate:
- How the coronavirus crisis has directly impacted them.
- Why the already announced Government support isn’t sufficient or why they aren’t eligible for these support measures.
- That the funding will ensure the survival of the business.
The minimum award is £1,000 and the maximum award will be £10,000.
The first £5,000 of all agreed awards will be treated as a grant. Any investment over £5,000 will be subject to a 0% interest repayment based on a number of commercial factors over the coming 24 months. These will be treated on a case by case basis.
The Liverpool City Region Music Board said they expect that there will be a high application rate and unfortunately will not be able to support all the businesses that apply.
For more information and to apply for the Liverpool Music Industry Support Fund visit https://www.cultureliverpool.co.uk/music-fund/
