Following the government announcement last month, RBC have now launched their Local Authority Discretionary Grant Fund Scheme. The deadline for applying is 15 June.
Who can apply
The scheme is open to small businesses, including charities, who have fixed property costs (rent or mortgage) and if all of the following can be evidenced:
- you are in receipt of Charitable Business Rate Relief (you would otherwise have been entitled to Small Business Rates Relief), and you have an assessment of this;
- the rateable value (RV) of the charity property must be £15,000 or less
- you have on-going fixed-building related costs
- you can demonstrate that you have suffered a significant fall in income due to the Covid-19 crisis. This might consist of evidence of physical closure, loss of regular income, reduced activity and evidenced by the gross amount earned less costs incurred during the Covid-19 period to represent a significant fall in net income.
- you can confirm how payment of the grant will ensure future sustainability.
- you have fewer than 50 employees and you will be required to confirm how many employees are residents within the Reading Borough
- in operation on or before 11th March 2020
- Turnover of less than £10.2m
- Balance Sheet total of less than £5.1m
Note: Those who have already received a Small Business grant or the Retail, Hospitality, and Leisure grant are not eligible under this fund.
You will be required to upload evidence such as (full details are in the application form linked below):
- proof of identity
- charity accounts
- details of your charity rates relief assessment
- signed lease agreement/ signed rental agreement/ signed mortgage agreement
- evidence from your bank or accountant about the loss of income due to Covid-19
- payroll or personnel records re employees who are resident with the Reading Borough
- proof of the charity bank account (possibly a bank statement).
How much can you apply for?
RBC have announced that local grants will be capped at £10,000