Croydon businesses hit by Covid-19 have just over a fortnight left to get a council grant of up to £10,000 each – and even more firms now qualify for a share of the £1.4m remaining.
Since June almost £1.5m has already been given by Croydon Council to hundreds of small and medium-sized businesses to help with the financial impact of Covid-19. A first round of applications focused on those businesses that had lost 40% or more of their income since lockdown. In July, the council widened this criteria to those that had lost 20% income.
From today (Thursday) around 150 charities, owners of Bed and Breakfasts and home-based companies in the borough that have lost 20% in income or more will also be able to apply for the council’s discretionary business grant.
Businesses with a rateable value of more than £51,000 can receive grants of up to £10,000; those with a rateable value of less than £51,000 can receive up to £5,000 if they have property costs of more than £1,000, or up to £2,500 if their property costs are under £1,000.
Firms have until 28 August to apply before any unspent money must be handed back to the government. To be eligible, businesses must have been trading on 11 March and not received other government funding excluding the Self-Employed Grant or the Job Retention Scheme. Find out more via the council website.
“These council grants have helped around 300 local businesses affected by the financial impact of Covid-19, starting with those who saw the biggest drop in income. We have widened the criteria so even more local firms are eligible, and now there are just two weeks left before the deadline.
“So if your company fits our criteria, make sure you don’t miss this opportunity to boost your post-lockdown recovery and get in touch with us.”
Councillor Manju Shahul-Hameed, cabinet member for economy and jobs