What grants are available
There are 3 levels of grant available, which will be determined by the loss of income suffered by your business as a direct result COVID-19 and your ongoing fixed commercial property costs.
Level 1: Grants of less than £10,000
Level 2: Grants of £10,000
Level 3: Grants of £25,000
It is anticipated that micro-businesses and those small businesses which are crucial to the local economy will benefit the most from discretionary awards at Level 1.
The City Council discretion is limited and related to the assessment of “significant” loss of income, (deemed to be a minimum of 30%) when awarding grants below £10k.
A grant does not need to be repaid by a business. However, should checks discover that payments have been made in error or have been claimed as a result of fraud, then recovery action will be needed. Only one grant is awarded per business, not per property.
Factors we will consider when reviewing your application
- Has the business suffered at least a 30% loss in trading income?
- What are the ongoing fixed commercial property costs which the business pays?
You will be required to attach evidence of loss of income in support of your grant claim, so we strongly recommend that you obtain this in advance of completing the online application form. Failure to submit evidence with your application will result in delays to the grant funding decision and possible rejection of your submission.
Type of evidence we will consider
This is not an exhaustive list, but gives you an indication of the type of evidence which we will consider in support of your grant request:
- 7 months Full Bank Statements (Excel spreadsheets and Word Documents are not acceptable)
- Staff headcount (i e payroll or HR print out that proves the number of employees (required only if your business employs more than 40 full time staff)
Types of eligible ongoing fixed commercial property costs:
- Lease/Rental or Tenancy Agreements
- Mortgage Payments (showing evidence of the proportion applied to your business)
- Business Rates (these will still be considered even if you have received business rates relief)
- Service Charges
- Building & Contents Insurance
- Utility Bills
- Storage costs
- Any other ongoing fixed commercial property costs that a business incurs on an annual basis