Further eligibility criteria have been removed from the council’s ARG hardship fund, to make the grant accessible to more businesses within the borough.
Businesses struggling as a result of the pandemic are being encouraged to re-check the details following an easing of eligibility criteria. The council has already paid a total of £6.6m worth of payments to over 2,800 Bromley businesses through Additional Restriction Grant schemes alone.
Businesses that have previously received the Self-Employed Income Support (SEISS) grant are now also potentially eligible for the hardship grants of up to £10k. Businesses that have previously been rejected for the scheme because they have been in receipt of SEISS, are now being strongly encouraged to reapply.
The hardship grant provides funds of up to £10k for eligible businesses within the borough and is targeted at businesses who can evidence a 50 percent decrease in income during any three-month period over the last year. The recent inclusion of businesses to the scheme who have been receipt of SEISS, is in addition to recent changes to the grant, where the requirement for businesses to have at least £50k turnover still no longer applies.
Councillor Peter Morgan, Executive Councillor for Renewal, Recreation and Housing said “We have already distributed millions of pounds to businesses and are determined to continue targeting grant funding to those businesses that need it. I strongly encourage businesses to look at the updated eligibility criteria as there may be support here for which they did not previously qualify. The widening of the criteria means that businesses who successfully applied for the Self-Employed Income Support grant are now also eligible for a hardship grant. This funding window is available for a little while longer only and therefore, the best advice is to apply now.”
Businesses are eligible for this grant if they are not registered to pay business rates, or if they have received business rate relief for the financial year 20/21 under the government business rate relief scheme. Businesses are only considered to be registered for business rates if they pay their rates directly to the council. Businesses that do not pay their rates directly, are still eligible for the grant, providing all other criteria are met.
Further details about the hardship grant are available, and applicants are advised to submit an application.
Interested businesses wanting to know when other business grant schemes become available are advised to subscribe to the business newsletter www.bromley.gov.uk/business where details of new grants will be outlined when they are available. For any additional business related queries, please contact Bromley.business@gov.co.uk.
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