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Discretionary Grants Fund

The council has been awarded £2.8 million by the Government to distribute to businesses that have experienced a significant fall in income as a result of Covid-19, that have ongoing fixed property-related costs and are currently outside the scope of the existing Government business grant schemes.

Applications to the Discretionary Grants Fund have closed. 

If you have already applied for a discretionary grant, please do not apply again.

Eligibility

The Government has set out guidance on priority areas, but has given the council discretion over allocation for this funding. In line with Government guidance, the Islington scheme has been designed to primarily support:

  • small and micro businesses, as defined in the Companies Act 2006
  • businesses with relatively high ongoing and fixed property-related costs
  • businesses which can demonstrate a significant fall in income due to COVID-19.

Due to high property values, as an inner London borough, some businesses occupying property, or part of a property, with a rateable value above £51,000 will be eligible.

In this final round of funding, there have been some changes to eligible businesses:

  • Pot A: regular market traders and public realm vendors – now including: casual traders
  • Pot C: independent pubs, theatres, live events venues, restaurants and cafes with rateable values over £51,000*, with a focus on those supporting the evening economy
  • Pot D: micro/small/medium business-to-business suppliers to the leisure, hospitality and creative sectors, and occupying industrial premises – now including: independent retail businesses with rateable values of over £51,000
  • Pot E: small/micro businesses located in affordable and independent workspaces, and independent workspace operators - now including: hair and beauty technicians; and those occupying creative shared workspaces 

In line with Government guidance, the Islington scheme has been designed to primarily support:

  • small and micro businesses, as defined in the Companies Act 2006
  • businesses with relatively high ongoing and fixed property-related costs
  • businesses that can demonstrate a significant fall in income due to COVID-19.

Due to high property values, as an inner London borough, some businesses occupying property, or part of a property, with a rateable value above £51,000 will be eligible.

We will expect all applicants to commit to supporting the Council in promoting the London Living Wage and to support the council’s employment initiatives – so that our community will benefit from this money.

Grants available

 Pots   Priorities £ Grant   
 A. Market traders and public realm vendors  £5,000
 C. Independent pubs, theatres, live events venues, restaurants and cafes, with an rateable value in excess of £51,000* (*specific limits apply)  £25,000
 D. Small and medium business-to-business suppliers to hospitality and creative sectors, occupying industrial premises, and independent retail businesses  £10,000
 E.  Small/micro businesses located in affordable and independent workspaces, and independent workspace operators  £5,000

Application process

We advise prompt application. To avoid businesses making applications when the fund is fully subscribed, we will close applications when we reach the application limits.

Please ensure that all documentation – particularly bank statements – are good copies that clearly provide the information we require to make the assessment for an award.

Please check our website carefully for your eligibility criteria before applying. If you have any questions about your eligibility, please email businesssupport@islington.gov.uk

We will work as swiftly as we can to process applications and undertake background checks. We will contact you if we need to clarify any details, but our decision will be final and there will there be no right to appeal.

We aim to process applications in 12 working days, but it may take longer and we will contact you to ask for further details/evidence if required. We will close the scheme when all the money has been allocated. The scheme will close to all new applications by 28 August 2020, if it has not closed before this date. All payments will be processed by 25 September at the latest.

Keeping you updated

We want to reach out to as many potential applicants as we can. We will be promoting the scheme via our business contacts and through social media (follow @islingtonbc on twitter or check out our Linked-in page as well as continuing to provide regular updates on this page and in our e-bulletin (sign-up by emailing businesssupport@islington.gov.uk) so do check regularly.

Signposting to other sources of advice and support

Although this additional funding is a very welcome and positive result of our strong lobbying efforts of central Government, we know that it will not be enough to meet the needs of all our businesses in Islington, and many will be disappointed. We will continue to lobby central Government for more support on your behalf. We have posted details of other financial support and sources of advice in our Finance support for businesses section.

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