Financial support for businesses and self employed
Grant funding of £10,000 is available for all businesses in receipt of small business rate relief and up to £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000. Businesses in the retail, hospitality and leisure sectors, and nursery businesses are eligible for a business rates holiday for the 2020-21 tax year.
We have now written to 4,200 businesses who are eligible for grant funding requesting evidence to support their qualifying for the grant. Eligible businesses across Lewisham can expect grant funding to reach bank accounts within 3-5 days from the point the information is received.
Shops, restaurants, pubs, nurseries and businesses in the leisure sector who are eligible will not pay business rates for the next twelve months. In Lewisham, this has already saved businesses in excess of £8m but this figure will continue to rise.
If your business is facing financial difficulties and does not meet the eligibility criteria, please get in touch with the team.
Apply for grant funding
Before we are able to award the grants, we need to make sure that you qualify for the grant and we pay you the correct account.
For businesses in receipt of small business rate relief email LBLSBRRgrant@lewisham.gov.uk.
For those businesses that fall in to the expanded retail, hospitality & leisure industries email LBLRDgrant@lewisham.gov.uk.
- your business rates account reference
- your business trading name and business address
- your full personal name and current correspondence address
- VAT registration number
- your nominated bank account name
- your nominated bank account number
- your nominated bank account sort code.
If you qualify, grants will be paid directly into the nominated bank account of the business liable for the rates. Therefore the bank details provided must be for the business rates account holder.
Once we have received your information the grant awards will be added to the business rate accounts then refunded by BACs transfer to reach the business account within 3 to 5 working days.
You can call the business support team on 020 8314 6150 for further support.
By returning this information, you are confirming that you are the correct recipient of this grant and were occupying the property on and before 11 March 2020. The council reserves the right to reclaim any grant paid if it is incorrectly claimed and awarded.
Bounce Back Loan for small and medium sized businesses
From 4 May 2020, small and medium sized businesses will be able to access the Bounce Back Loan scheme. This scheme will allow small and medium sized business to apply for loans of up to £50,000. The Government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first for the first 12 months. The loan terms will be up to 6 years and there will be no repayments due in the first 12 months. Read more about the Bounce Back Loan.
Help if you are self employed
If you are self-employed and have lost income, you may be eligible for the COVID-19 Self-Employment Income Support Scheme offering a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next three months.
Coronavirus Large Business Interruption Loan Scheme
Via the Coronavirus Large Business Interruption Loan Scheme firms with a turnover of more than £45 million can apply for up to £25 million of finance, while firms with a turnover of more than £250 million can apply for up to £50 million of finance. This scheme has been established to support firms that do not qualify for the existing Coronavirus Business Interruption Loan Scheme or the COVID-19 Corporate Financing Facility.