New and existing businesses in Hull's Old Town are being offered the opportunity to apply for a share of £800,000 in a grant scheme between Hull City Council and the Humber LEP. 

The Old Town Grant Scheme, which is run by the council, opens today. It is split into two strands. The first 'business start up and expansion' grant offers existing businesses the chance to apply for funding to expand their business, and also invites anyone considering starting a new business in this area of the city centre the ability to apply for financial support. 

The 'property improvement' grant offers existing businesses the opportunity to improve their shop frontages and make internal work improvements, revitalising the historic buildings that give the Old Town much of its character. 

The scheme is part of the council's wider commitment to 'repurpose the Old Town' with the revitalisation of Trinity Market and the re-introduction of a regular outdoor market also on the agenda. 

Garry Taylor, City Major Projects Manager, said: "This is a fantastic opportunity for businesses in the Old Town to capitalise on the major redevelopments taking place around them and for new businesses to set up in this beautiful area and reap the rewards that 2017 and beyond will bring. 

"With the development of the Fruit Market well underway and the public realm in Trinity Square and Trinity House Lane starting to take shape, the results these grants will produce are really the last piece of the jigsaw for the Old Town. 

"We are very keen to see applications for Whitefriargate and the surrounding area in an effort to reinvigorate this once bustling shopping street, however we are looking forward to seeing submissions from all parts of the Old Town." 

The scheme is will remain open until September 2017 or until all funds have been awarded. Grants will generally fund up to 50 per cent of project costs and be matched from the business's own resources (other publicly funded grants or loans are not eligible to be used as match funding). There is no limit to the amount of funding that can be applied for. 

The vision for the future of the Old Town is to create an area of thriving café bars, visitor attractions, restaurants and independent retailers making the most of the area's medieval street layouts and architectural beauty, and of the Old Town standing as a strong economic presence at the east of the modern city centre. 

Application forms can be requested from the Old Town Programme Team on 01482 612 552/612 565 or e-mail: oldtowngrants@hullcc.gov.uk. 

Further information on the Old Town Grant Scheme can also be found online at: www.hullmeansbusiness.com/loansandgrants.