Hardship grant fund – from December 2021

This grant is now closed.

If your business needs support, visit the London Business Hub - a free resource available to all Croydon businesses to provide help with finance, moving into a new sector, trading online, finding a workspace and much more.

Visit https://www.businesshub.london/ to register for free one-to-one support, access training and webinars, or join programmes to help work through the issues facing your business.

Eligible businesses with commercial fixed property cost in Croydon can apply for a £2,000 grant.

Funding will be allocated on a first-come, first-served basis. To avoid any delay on applications, businesses must provide all information and evidence needed within the online form.

Businesses that have received the December 2021 evening and night-time economy top-up grant are not eligible for this fund.

Who can apply?

This grant is now closed.

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) 
  • partnerships
  • social enterprises (must be able to demonstrate a clear social mission addressed by the social enterprise) charities with an active trading arm 

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
  • must have been trading on the 5 January 2021
  • must have seen a minimum 10% reduction in income (which can be evidenced)
  • must have a turnover of £15,000 per annum

Businesses not eligible include:

  • Companies that are in administration, or insolvent or where a striking-off notice has been made would not eligible for funding under this scheme
  • Businesses must comply with the new subsidy control rules and be compliant with the additional restrictions guidance. 
  • Businesses without a commercial lease

Priority business types

This Croydon hardship grant will continue to give priority to those businesses in Croydon that fall into the following categories: 

  • Businesses who have been directly impacted by the ongoing national restrictions which has affected the substantial part of their business, leading to a loss of income of at least 10% or more

In order for businesses to qualify for the grant, they must provide evidence that they meet ALL of the following criteria

  • All types of organisations are eligible including but not limited to limited companies, community interest companies, limited liability partnerships, charities and social enterprises.
  • Sole traders and partnerships are also eligible to apply for support under the scheme if they meet all other eligibility criteria.
  • This funding is to support businesses which have suffered a significant loss of income due to Covid-19. The turnover must have been at least £15,000 per annum during 2019/20 tax year.
  • The business must have been actively trading prior to the 5 January 2021. Note, this means your business must be active. Your premises do not need to have been open.
  • The business must have a trading/operating address in the London Borough of Croydon, and regularly operate in the London Borough of Croydon.
  • The business must be fully constituted. It must not be in administration, insolvent or have had a striking-off notice made, either when the national restrictions came into effect, at the point of application, or when the grant is due to be paid.
  • Businesses must comply with the new subsidy control rules and be compliant with the additional restrictions guidance. 

Supporting evidence

You will need the following information and evidence 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 agreement, building insurance documentation) 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 bank statements in pdf format. We cannot accept photographic images of statements.

Failure to provide the necessary supporting evidence will result in a delay processing applications, and will therefore cause a delay in the payment of grants.