Financial Support

Find Coronavirus financial support for your business

Here is a business support finder to see what support is available for you and your business:
https://www.gov.uk/business-coronavirus-support-finder

More specific information can also be found here:

Grants

Here are details on the new grant schemes being administered to support businesses:

 

Additional Restriction Grant (ARG) – Now Open

As of Friday 26 February, Businesses can begin to apply for three of six grants to help offset the financial burden caused by the coronavirus pandemic. The first applications to open will be the covid hardship, aviation sector and culture sector grants; other schemes will follow shortly after.

 

The ARG Discretionary Grant scheme is a fund awarded to the council to help local businesses who are not eligible for other forms of financial support and have fixed on-going costs such as rent or mortgage payments, loans or lease agreements for capital equipment or rental of workspaces. 

 

Each of the business grants has a separate application window and further details of each can be found on the council’s website.

 

The six funding categories for local businesses are:

If you have been unable to receive funding up to this point, we would encourage you to carefully review the funding categories and, when they open, apply as quickly as possible to ensure that you don’t miss out. For more details, you can view the council’s website here.

Loans

Apply for the Coronavirus Future Fund

This scheme issues convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak.

For information on how to apply, click here: https://www.gov.uk/guidance/future-fund

 

Apply for the Coronavirus Business Interruption Loan Scheme

The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses affected by coronavirus.

For information on how to apply, click here: https://www.gov.uk/guidance/apply-for-the-coronavirus-business-interruption-loan-scheme

Business rates relief

All businesses in the retail, leisure and hospitality sectors will receive 100% rates relief for 2020/21 (subject to state aid limits and qualifying criteria). This includes: public houses, estate agents, betting shops and bingo halls.

Registered nurseries will also receive 100% rates relief for 2020/21.

In addition to this rates relief, two grants, of £10,000 and £25,000, were administered in accordance with rateable values and these have been paid to qualifying businesses in the retail, leisure and hospitality sectors. For more information please check Ealing Council’s website here:

If you are a commercial business operating with a retail element to your business, which involves customers visiting your premises (i.e. transactions are not solely made online) you may also qualify for rates relief. Please contact us to discuss. 

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