Phase 2 of the Discretionary Grants Fund – opening 27th July

Phase 2 of the Discretionary Grants Fund for Croydon will open on 27 July 2020 and Croydon Council have made some important changes.

They are expanding the eligibility of the scheme to include businesses with a rateable value of £51,000 or above which have been ineligible for COVID grants to date. Businesses with a turnover of not more than £10.2 million, employing fewer than 50 staff, may be eligible for a grant of £10,000.

They have also reduced the threshold of COVID-related loss in income to a 20% loss.

Small businesses which occupy business premises in property with a rateable value below £51,000 will still be able to apply for a grant of £2,500 or £5,000 (determined by monthly costs). £1,000 grants for market traders are no longer available.

As with Phase 1 of the Fund all businesses must occupy business premises, and be able to demonstrate ongoing fixed business premises costs.

Please note, businesses which operate from residential premises or pay for storage costs only are not eligible to apply.

Businesses which have applied for the Coronavirus Job Retention Scheme and the Self-Employment Income Support Scheme are eligible to apply for this scheme.

Please check the eligibility criteria carefully before applying at: https://www.croydon.gov.uk/discretionary-grant-fund

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