£10k business grant.

[Agrivator]

If any tenant has applied for, and obtained the above grant ( or even the £25K grant), and the Tenant has not informed the Landlord, is there any other way that the Landlord can find out the details.

In many cases, Landlords will have granted rent holidays, and there will obviously be cases where less-than-honest Tenants won't want to share at least a bit of their windfall.

 

[PuG]

I don't see why the tenant would need to inform the land lord - the grant is to them/or business personally. Sounds more like the filthy fat cats are getting jealous that people are managing to get a finger in a pie before them. Its no different for shop owners along the high street who rent/lease there frontage.

Edit:
Sorry I missed the bit on rent holidays, or completely miss read. Its still the land lords discretion on granting a break for monthly fees (if there in a positive finical situation themselves to allow it) - but at the end of the day the grant is to help maintain said business. If the business fails then there will definitely be no further rental income.

 

[Johnnyboxer]

I can’t see why a landlord should even know

I was talking to a friend yesterday who had received his £10k grant and he rents a unit in part of another commercial unit

In fact it was his landlord that handed him the letter from the council telling him, that he was getting a £10k Grant

Somehow it had landed in his landlords post box

Whether my friend has had a rent holiday or not, I don’t know and none of my business

However his landlord was happy my friend got some help from the council, as his business has been decimated with no work since beginning of March and the £10k is to help him and the business surviving and put food on the table

 

[delilah]

Just sharing this from our bookkeeper, new help for small business. A loan, not a handout, which is clearly reserved for big business.

In response to the difficulty many small businesses have had accessing loans, the Chancellor has announced a new 100% Government backed loan scheme for small businesses.

• The loans will be available to Limited Companies, Partnerships and Sole Traders.
• The scheme should be available from Monday 4th May and accessed via a simple online application. Funds should be paid within 24 hours.
• Businesses can apply for a loan of between £2,000 and £50,000, which would be up to 25% of their annual turnover.
• The Government will pay interest and charges for the first 12 months then normal repayment terms will be applied.
• Eligibility tests will be much simpler than the Coronavirus Business Interruption Loan.
• The scheme will be available until September.

 

[neilo]

Does anyone know if you can take out a 12 month loan?

 

[Mc115reed]

Don’t really know why they’re calling them grants because they’re too pay back... I have drawn down a 10k grant simply because I wanted too expand a bit and 1 year on 0% was ideal but it’s still to pay back

 

[Campbell]

The £10k small business grant is a 'one off grant' operated by the local councils. You don't repay grants.

 

[Johnnyboxer]

Just sharing this from our bookkeeper, new help for small business. A loan, not a handout, which is clearly reserved for big business.

In response to the difficulty many small businesses have had accessing loans, the Chancellor has announced a new 100% Government backed loan scheme for small businesses.

• The loans will be available to Limited Companies, Partnerships and Sole Traders.
• The scheme should be available from Monday 4th May and accessed via a simple online application. Funds should be paid within 24 hours.
• Businesses can apply for a loan of between £2,000 and £50,000, which would be up to 25% of their annual turnover.
• The Government will pay interest and charges for the first 12 months then normal repayment terms will be applied.
• Eligibility tests will be much simpler than the Coronavirus Business Interruption Loan.
• The scheme will be available until September.

That's a Bounceback Loan?

 

[Johnnyboxer]

The £10k small business grant is a 'one off grant' operated by the local councils.

You don't repay grants.

Exactly it's a grant, never to be repaid

 

[lazy farmer]

Just sharing this from our bookkeeper, new help for small business. A loan, not a handout, which is clearly reserved for big business.

In response to the difficulty many small businesses have had accessing loans, the Chancellor has announced a new 100% Government backed loan scheme for small businesses.

• The loans will be available to Limited Companies, Partnerships and Sole Traders.
• The scheme should be available from Monday 4th May and accessed via a simple online application. Funds should be paid within 24 hours.
• Businesses can apply for a loan of between £2,000 and £50,000, which would be up to 25% of their annual turnover.
• The Government will pay interest and charges for the first 12 months then normal repayment terms will be applied.
• Eligibility tests will be much simpler than the Coronavirus Business Interruption Loan.
• The scheme will be available until September.

Your getting your schemes confused I’m afraid.

 

[Red Fred]

I applied for the £10k grant from our local council as we had lost our holiday bookings on our cottage, and they sorted it in three days. It does not have to be paid back.

I asked if we could claim the zero rating for the year on our former business rental as it falls into the right categories, but as we were working on the building for our business on the 15th March and it had not yet opened , this wasn't allowed, so most of the £10g will go back in rates, but rules is rules and I thought it worth asking. (We currently pay full rates on this, so I wasn't sure)

I gave our two small unit tenants a rent holiday and sent them all the info I had to see if they could apply for anything, but I have no idea if they did and it is none of my business. I'm not going to act like my farm landlord and filter every subsidy going from the tenants when it is designed to help small businesses.

 

[Bongodog]

Sounds like someone is upset that they don't meet the terms of the grant scheme. Its a no strings £10k to anyone who was already in receipt of small business rates relief. If you are solely a landlord and don't occupy property in your own right you don't qualify as the business rates are always the tenants responsibility. if however you do have a qualifying business you would get £10k.

 

[Agrivator]

I can’t see why a landlord should even know

I was talking to a friend yesterday who had received his £10k grant and he rents a unit in part of another commercial unit

In fact it was his landlord that handed him the letter from the council telling him, that he was getting a £10k Grant

Somehow it had landed in his landlords post box

Whether my friend has had a rent holiday or not, I don’t know and none of my business

However his landlord was happy my friend got some help from the council, as his business has been decimated with no work since beginning of March and the £10k is to help him and the business surviving and put food on the table

So you think it is quite acceptable for a Tenant to receive the grant, but to keep the Landlord in the dark and to continue to take advantage of his generosity in allowing a rent holiday.

 

[lazy farmer]

So you think it is quite acceptable for a Tenant to receive the grant, but to keep the Landlord in the dark and to continue to take advantage of his generosity in allowing a rent holiday.

So giving a rent holiday is a way of helping the tenant stay in business. How is the grant any different ? I imagine the landlord isn’t the only bill to be paid and the landlord has chosen to differ his bill. I really don’t get your point.

 

[nelly55]

Have you allowed a rent holiday in which the rent will be made up over a period of time,or simply said no rent for xx months.I have allowed an ast tenant a reduced rent over a period of 3 months but a topup later in the year.Why be ause they are a good tenant and I don’t want to loose them.

 

[PSQ]

Exactly it's a grant, never to be repaid

You'd think so, but the Chancellor treats it as unearned income, and will demand his pound of flesh ?

 

[B R C]

For goodness sake, this small businesses need to survive, every bit helps, my non farming business has all but shutdown but still has nearly all the running costs still ongoing. We have furloughed a part time employee as spare parts sales are at about 5% of what they should be but the other employee is still on full wage as he needs to carry on trying to work keep talking to customers and keep it all going for when it gets better. The £10k represents the margin on 2 weeks normal sales so while it will be very gratefully received it’s hardly a ‘windfall’. You’ll be crying if they go bust and vacate your unit!

 

[Red Fred]

For goodness sake, this small businesses need to survive, every bit helps, my non farming business has all but shutdown but still has nearly all the running costs still ongoing. We have furloughed a part time employee as spare parts sales are at about 5% of what they should be but the other employee is still on full wage as he needs to carry on trying to work keep talking to customers and keep it all going for when it gets better. The £10k represents the margin on 2 weeks normal sales so while it will be very gratefully received it’s hardly a ‘windfall’. You’ll be crying if they go bust and vacate your unit!

This is how we felt with our small business tenants, they are both involved in weddings and functions and have been very good tenants, so I would rather try to help out so we don't lose them. Their businesses simply dropped off a cliff, and the grant we get for our holiday cottage will help us all get through the summer. It is hardly a windfall in the present circumstances.

 

[Johnnyboxer]

You'd think so, but the Chancellor treats it as unearned income, and will demand his pound of flesh ?

Of course, you had to add it to your trading profits as income.

 

[livestock 1]

In this case the tenant is responsible for the running of the business and it’s finances.
The landlord has an agreed rental value with the tenant
If you’ve given the tenant a ‘rental holiday’ there’s no point in getting upset he’s used everything in his powers to safeguard his business
Think of him/her as showing integrity
Who would you let it to if you loose the tenant
We let property and do everything we can to help tenants through hard times
Many work here when things are tight for them