ENTREPRENEURIAL RELIEF GRANT

From the Ministry of Finance in collaboration with NEDCO

 

About Us

The National Entrepreneurship Development Company Limited (NEDCO) was established in 2002 by the Government of the Republic of Trinidad and Tobago with a mandate to develop micro and small enterprises (MSEs) in Trinidad and Tobago whose needs cannot be met by traditional lending agencies. NEDCO offers a wide suite of entrepreneurial development services to help MSEs move from business concept to successful commercialization: small business financing; entrepreneurial training; business assessment; mentorship; business advisory; and client-focused services.

NEDCO’s years of experience of fostering entrepreneurial growth, managing the disbursement of small business financing and its ongoing relationship with the small business community in Trinidad and Tobago, makes NEDCO the ideal partner for the Entrepreneurial Relief Grant, an initiative of the Government of the Republic of Trinidad and Tobago.

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.

Between 70% to 85% of all business activity in Trinidad and Tobago is conducted by enterprises employing less than 25 persons. Micro and small enterprises (MSEs) however have been the most vulnerable to the economic impact of the COVID-19 pandemic. As part of its national COVID-19 Relief programme, the Government of the Republic of Trinidad and Tobago has implemented an Entrepreneurial Relief Grant to provide financial assistance to MSEs.

MSEs 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.

Check If You Are Eligible To Apply

Applicants must meet the following criteria to qualify for the Entrepreneurial Relief Grant:

  • You must be a citizen or legal resident of Trinidad and Tobago.
  • You must be 18 years and over.
  • You must have an existing business to apply. You can start the application process 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 before you receive the funds.
  • Your business must earn less than TT $1 million in annual income.
  • All types of businesses can apply, including sole traders, but it must be a legal business.
  • 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.
  • Applicants with pending / current criminal court proceedings against them will not be eligible.

Documents Required To Apply

The following documents must be submitted to apply for the Entrepreneurial Relief Grant:

Personal Documents

  • Two forms of valid Trinidad and Tobago identification including a national identification card, passport or driver’s permit.
  •  If you have only one of the above forms of identification, then you must produce your original birth certificate as your second form of identification.
  • Your personal Board of Inland Revenue (BIR) number.

Business Documents

  • Certificate of Registration and/or proof of assignment of a business Board of Inland Revenue (BIR) number.
  •  Proof of business operations including receipts, invoices, contracts.
  •   Proof of address.

Entrepreneurial Relief Grant

FREQUENTLY ASKED QUESTIONS

1. 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.
3. What type of businesses can apply?
  • All legal businesses can apply.
5. 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.
7. Will I have to repay the grant?
  • No. A grant does not have to be repaid.
9. 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
11. 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.
13. 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.
15. 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.
17. 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.
19. 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.
21. 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.
23. 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.
2. Where do I apply?
  • You can only apply online at www.nedcottfunding.com
4. Can I apply as an individual or must I apply on behalf of a business?
  • Sole traders, partnerships and limited liability companies can apply.
6. 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.
8. 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.
10. 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.
12. 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.
14. What is the maximum amount that is allowed?
  • The maximum allowed is $20,000.00
16. 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.
18. Will I be contacted if I am unsuccessful?
  • Yes. You will be contacted.
20. 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.
22. 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.
24. 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.

application tips

 

As part of its national COVID-19 Relief programme, the Government of the Republic of Trinidad and Tobago is offering an Entrepreneurial Relief Grant to provide financial assistance to Micro and Small Enterprises (MSEs) that have been negatively impacted by the COVID-19 pandemic.

These Application Tips provide a quick overview of the application process, as well as assistance with issues that some applicants may encounter. Before starting your online application, please be sure to thoroughly review the information on this website for the following:

  • Check your eligibility for the Entrepreneurial Relief Grant – Your application will be unsuccessful if you do not meet all the listed criteria.
  • Check to confirm which documents are required – You must submit the requested documents to qualify for the Entrepreneurial Relief Grant. Be sure to get all your required documents together before starting the online application so that your application does not time out.
  • Compress any attachment that is greater than or equal to 3MB – The online application will not accept any attachment that is greater than or equal to the 3MB size limit.
  • Check to ensure your attachments are in the correct format – Only Word, Excel, PDF & Image files are accepted (pdf, doc, docx, xls, xlsx, csv, jpg, jpeg, and png).
  • Prepare your answers in advance – Review the online application form before starting to get an idea of the information you will be providing. This will ensure that your application does not time out and will help you to present a good case for the Entrepreneurial Relief Grant.
  • Answer all mandatory questions – These are the questions with the asterisk (*) next to them. The online application will not accept any entries with mandatory questions that are unanswered.
  • Thoroughly review the Frequently Asked Questions (FAQs) – The FAQs will provide a good overview of the application process from start to the payment of funds.

APPLICATION ASSISTANCE:

1. I made an error in my application, should I resend another one with the correct information?
  • Solution:
    • 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.
2. 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.
3. 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

application form

START YOUR APPLICATION BELOW. APPLY ONLINE NOW!

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