Croydon small businesses forced to shut during the second national lockdown can now find out if they are eligible for up to £10,000 each from a £7.7m government-funded grant.
Croydon Council has been given the £7,734,200 discretionary grant to share among borough firms forced to close over the 28-day period from 5 November until 2 December, with priority going to non-essential retail, leisure, personal care, sports facilities and hospitality businesses.
The money will be available in two parts – first the council will share £3.5m among eligible companies needing to cover urgent costs in December, and the remainder will become available in January so businesses can invest in any new equipment or technology that will help future growth.
Croydon Council’s website has information about who is eligible for the one-off Additional Restrictions Grant and how to apply. Awards will be distributed on a first-come, first-served basis, and range from £2,000 to £10,000.
Eligible businesses, which can include home-based firms and social partnerships, must have a Croydon trading address, been actively trading on 4 November before being forced to shut due to the second lockdown, and have lost at least 20% of their income as a result of Covid-19. Applications close 31 December.
The council has also received a separate £5.85m share of the government’s Local Restrictions Support Grant for local companies. These firms, which must pay local business rates and also have been closed during the second lockdown, qualify for up to £3,000 depending on their rateable values. Businesses owners who think they are eligible but have not heard from the council are encouraged to get in touch via an online form on the council website.
“Small businesses across the borough have been really affected by the economic impact of Covid-19, and this latest funding will particularly help with big fixed costs such as premises rent and mortgages without needing to pay us back for the grant.
“As well as supporting local small firms to pay their bills now, we are also dedicating a chunk of this funding to boost their business planning in the New Year. I would urge local people who think they may qualify to get in touch so we can help.”
Councillor Manju Shahul-Hameed, cabinet member for economic recovery and skills