Croydon business owners needing financial support as a result of Covid-19 lockdown can now apply for a new grant of up to £10,000 provided by central government and run by the council.
From today (Tuesday 16 February) the council has launched a new phase of the Croydon Additional Restrictions Grant, which makes available individual discretionary payments of £2,000 to £10,000 for businesses that apply and meet the eligibility criteria. The money is a grant, not a loan, so it does not need to be repaid.
Three of these new grants are now available to eligible local businesses: £2,000 per business with fixed property costs in Croydon of less than £1,500 per month; a £5,000 grant for businesses with fixed property costs in Croydon above £1,500 per month; and a £10,000 grant for workspace providers that offer serviced office support to small and medium-sized businesses. The £10,000 grant is available to eligible businesses whether they are currently open or not due to Covid-19.
To be eligible, your business must trade from a Croydon address, have been active on 5 January 2021, be able to prove at least a 10% income drop, and have a £15,000 annual turnover. Grants are awarded on a first-come, first-served basis.
The grant scheme is open to firms across all sectors that meet the eligibility criteria. A previous phase gave priority to the hospitality, non-essential retail, leisure and sports facilities, arts and entertainment, workspaces, venues and events management and personal care sectors.
To apply for the new grant, visit the council’s online resource for businesses, which includes not only information about funding opportunities available to firms affected by coronavirus but also useful advice and support for businesses of all sizes.
https://new.croydon.gov.uk/covid-19-business-support-advice-and-funding/covid-19-funding
