Redbridge Council sets August 17 deadline for applications to third round of Discretionary Business Grants
PUBLISHED: 10:01 05 August 2020 | UPDATED: 10:01 05 August 2020
A third round of discretionary business grant applications has been opened by Redbridge Council.
Designed for businesses in the borough not already receiving financial support, applications are open until 9am Monday August 17, or until 1,000 submissions are received (whichever is sooner).
A maximum of one grant will be awarded on a first-come-first served basis to businesses trading before March 11.
The primary criteria is that applicants must have property-based costs and be able to demonstrate considerable losses due to coronavirus.
However, there are a few caveats to this because of the other types of relief made available during the pandemic.
Eligible businesses include:
• Businesses and social enterprises in shared workspaces who have fewer than 50 employees, except where the freeholder or lessor has already received a small business grant fund (SBGF) or retail, hospitality or leisure grant fund (RHLGF).
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• Charities in properties who receive the mandatory relief from business rates granted to such organisations.
• Events and catering businesses, excluding those that have already received a SBGF or RHLGF payment.
• Retail, hospitality and leisure sector businesses with a rateable value between £51,000 and £70,000, excluding national chains and those who have already received a SBGF or RHLGF payment of £10,000.
• Businesses still experiencing trading restrictions, excluding those who have already received a SBGF or RHLGF payment.
• Nurseries that have qualified for the business rates nursery discount, limited to one grant per company.
• Small and micro businesses who have lost income worth more than 50 per cent of turnover, or who have property costs exceeding 25 pc of turnover.
Beyond the SBGF or RHLGF, businesses receiving assistance from the fisheries response fund, domestic seafood supply scheme, zoos support fund and the dairy hardship fund cannot apply.
Applicants must provide bank statements, a profit and loss summary, balance sheets and property documentation.
To apply, visit eforms.redbridge.gov.uk/discretionary-grant/.
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