Business grants will support more Croydon businesses

Croydon businesses who have fallen through gaps in government support will be able to claim up to £10,000 to help recover from the impact of coronavirus under a new scheme launched by the council.

The second round of the council’s discretionary support grants for businesses will offer a total of £1,964,250 in one-off grants to a wide range of local firms. To be eligible they must have been trading on 11 March, and not yet received other funding specifically to help with the impact of pandemic.

Businesses who were trading on 11 March with a rateable value of more than £51,000 can receive grants of up to £10,000. Those with a rateable value 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 less than that.

The new funding builds on £906,000 already given to 243 Croydon businesses – including market traders – through the council’s discretionary support grants.

“Since the start of this pandemic we have been working around the clock to support local businesses, distributing around £49 million in government funding to thousands. However, we are very aware that some have fallen through gaps in these schemes.

“That’s why we are stepping in to use our discretionary funding to help as many of them as we possibly can – it has been an incredibly tough time for businesses everywhere, and in Croydon we are determined to do all we can to support them.”

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

The fund will open to applicants from Monday 27 July. More information will be posted online.

2020-07-17T13:18:13+00:00 July 17th, 2020|Recent news|