A Covid Business Recovery Fund of up to £50 million has been launched by the City of London

The fund, launched on 12 April, will be made available to small and independent retailers and hospitality businesses together with those providing clinical and professional services (e.g., dentists and opticians) necessary for the successful return of all those who work in businesses in the City.

Grants will be based on individual requirements after a financial evaluation but will not exceed £100,000 per business. That means more than 500 SMEs will benefit. Applications will be accepted until 11 June 2021.

Chairman of the City of London Corporation’s Finance Committee, Jeremy Mayhew, said: “We are committed to supporting the Square Mile’s economic recovery from this pandemic and building back better. This Fund will be used to help businesses across the City that have faced exceptionally challenging trading conditions for months.”