Supporting our local businesses
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3. Grants and loans for businesses
5 January 2021: We are awaiting further Government guidance regarding business grants following the announcement of another national lockdown from 5 January 2021.
Please bear with us and do not call or email for information at this time. As soon as we have further information, we will update our website.
The following grants are currently open for applications by eligible businesses in the borough of Reigate & Banstead:
Local Restrictions Support Grants (where your business had to close between 5 November and 2 December 2020) - for non-essential retail, leisure, personal care, sports facilities and hospitality businesses who were told to close by the Government for the national lockdown between 5 November and 2 December.
Additional Restrictions Support Grants - for businesses who have closed or been severely affected by the current restrictions, such as those businesses in the supply chain.
Christmas support payment - this one-off payment is for pubs where less than 50% of their income is usually from food sales. Reigate & Banstead Borough Council is in the process of writing to all pubs. If you have not received an email, please contact our Business Rates team.
Local Restrictions Support Grants (where your business could remain open between 2 and 18 December 2020) - for businesses registered for business rates in the hospitality, hotel, bed & breakfast and leisure industries only.
Local Restrictions Support Grants (where your business had to close between 2 and 18 December 2020) - for businesses that have not been allowed to reopen from 2/12/20, for example pubs which cannot provide substantial meals.
Tier 4 grant (for businesses affected by Tier 4 restrictions between 19 December 2020 and 4 January 2021). We are hoping to start paying these grants as soon as possible. Businesses that applied for a previous lockdown grant since November do not need to reapply – we will use the previous information. However, businesses that have not previously applied for a lockdown grant since November can fill out this application form.
Lockdown Grant (where your business has had to close from 5 January 2021). We expect to start making these payments shortly. Businesses that have applied previously for a lockdown grant since November do not need to fill out another form – we will use the previous information. Please bear with us: we are working hard to make payments as quickly as possible.
Coronavirus loans extended
Please note you cannot apply for more than one coronavirus loan.
Coronavirus Bounce Back Loan
Businesses who have borrowed less than their maximum (i.e. less than 25% of their turnover) through the Bounce Back Loan Scheme can top-up their existing loan with more funding.
The Coronavirus Bounce Back Loan was set up to help small and medium-sized businesses affected by coronavirus.
- The scheme is open for applications and cash will be released within days for eligible businesses.
- Businesses can borrow between £2,000 and £50,000.
- The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.
- Loan terms will be up to 6 years.
- The government will work with lenders to agree a low rate of interest for the remaining period of the loan.
- The scheme will be delivered through a network of accredited lenders.
Find further guidance and application details on the Coronavirus Bounce Back Loan website.
Coronavirus Business Interruption Loan Scheme
The Coronavirus Business Interruption Loan Scheme provides financial support to smaller businesses affected by coronavirus. The application deadline has been extended to 31 January 2021.
Coronavirus Large Business Interruption Loan Scheme
The Coronavirus Large Business Interruption Loan Scheme helps medium and large sized businesses to access loans and other kinds of finance up to £200 million. The Government guarantees 80% of the finance to the lender. The scheme is open to applications until 31 January 2021.