Up to £5k extra funding for Croydon businesses yet to receive coronavirus financial support

Croydon businesses impacted by the coronavirus that have yet to receive any financial support will be able to apply to the council for a one off grant payment of up to £5,000.

Small businesses in Croydon will be able to apply for grants of £1,000, £2,500 and £5,000 from Thursday 4 June. The grant totals have been deliberately set to ensure as many Croydon businesses as possible can benefit from the funding available at this crucial time.

To be eligible businesses must have been trading on 11 March; employ less than 50 employees; must be able to demonstrate a significant fall in income or financial impact; must show they have fixed property costs related to occupying a property or workspace either fully or partially; and must not have been in receipt of any coronavirus specific grants.

Market traders, who must trade five days a week in the borough, will be able to apply for a grant of £1,000; while businesses with property costs of between £0-£999 and £1,000 plus, will be able to apply for grants of £2,500 and £5,000 respectively.

Applications for funding will either close when all funds have been allocated or on 30 June 2020 – whichever is reached sooner – and the grants will be awarded on a first come first served basis.

“Croydon’s business community has been heavily impacted by coronavirus and we are fully aware there needs to be considerably more financial support to ensure its survival.

“We know that more than 10,000 local businesses have missed out on grant funding so far and too many are falling through the gaps, which is why we continue to lobby government to give us the funding we need to enable us to provide an essential lifeline to all struggling businesses in our borough. I’d urge all businesses that meet the criteria to apply for this grant, which we hope will help to ease some of the financial burden caused by this pandemic.”

Councillor Manju Shahul-Hameed, cabinet member for economy and jobs

To apply for a grant or for more information click here.

2020-06-05T18:30:28+01:00 June 3rd, 2020|Recent news|