An online system for local businesses to apply for grants of up to £25,000 to support them during the Coronavirus pandemic has launched – with around 350 companies already receiving payments.
Hackney Council is managing the payment of grants from the Government’s Coronavirus Small Business Grant Fund and the Retail, Hospitality and Leisure Grant Fund, in addition to business rate relief.
More than £3million has already been paid to companies whose bank details are held by the Council, but the majority of businesses must submit their details online so their claim can be processed.
The grants are part of the Council’s £100million support package for the borough’s businesses, which also includes rent deferrals for its commercial tenants, the suspension of fees and charges and immediate payment terms for suppliers.
The Council’s Hackney Business Network continues to issue weekly email updates to members, as well as online and social media updates of support as it is announced. Answers to frequently asked questions about the grant schemes are also available.
Businesses classed as within retail, leisure and hospitality sectors (including pubs) with a rateable value of over £15,000 and under £51,000 will be eligible to receive a £25,000 grant in 2020/21 in addition to their relief from business rates.
Businesses classed as within retail, leisure and hospitality sectors (including pubs) with a rateable value up to and including £15,000 will be eligible to receive a £10,000 grant in 2020/21 in addition to their relief from business rates.
Businesses who receive small business rates relief will be eligible to receive a £10,000 grant in 2020/21 on top of their existing relief.
The Council will continue to press ministers on behalf of businesses who are not eligible for these grants or existing business rate relief.
For the latest information about how the Council is working hard to slow the spread of coronavirus, and to sign up for email updates, visit hackney.gov.uk/coronavirus