Who can apply?
All types of organisations including but not limited to:
- limited companies
- community interest companies
- limited liability partnerships
- sole traders (note market traders must operate a minimum of 5 days per week in Croydon)
- social enterprises (must be able to demonstrate a clear social mission addressed by the social enterprise) charities with an active trading arm
- home based businesses and businesses with commercial premises
Businesses that have applied for the Coronavirus Job Retention Scheme and the Self-Employment Income Support Scheme or are in receipt of a Bounce Back Loan are eligible to apply for this scheme.
To be eligible, businesses must have:
- a registered or trading address in the London Borough of Croydon
- been trading on the 1 October 2021
- seen a minimum 10% reduction in income (which can be evidenced)
- a turnover of £10,000 per annum
- Black, Asian or minority ethnic ownership
Businesses not eligible include companies:
- that are in administration
- that are insolvent
- where a striking-off notice has been made
Businesses must comply with the new subsidy control rules and be compliant with the additional restrictions guidance.
Your business premises does not have to have remained open throughout the whole of the pandemic.
Businesses must have evidence of fixed costs, this grant cannot be used for wage subsidy.
You will need the following evidence in PDF format to complete the application and demonstrate loss in income of at least 10% as a direct result of COVID-19:
- bank statements for the last six months for the account into which you would like the grant to be paid
- evidence of the fixed ongoing building-related costs (for example, copy of signed lease, contract, licence, membership of co-working or mortgage or rent agreement) and evidence of payment of building costs (note, costs for storage units or virtual/postal addresses are not eligible)
- profit and loss summary for 12 months (2019/2020)
- company registration number
The bank account number and sort code you provide in the application form should match exactly that of the bank statements provided as evidence.
Please provide all evidence in PDF format. We cannot accept photographic images.
After submitting your application you could be asked to attend an in-person interview before a grant is paid.