Monday, May 23, 2022

Stapleford £1m Town Centre Recovery Fund reopens with more businesses now eligible

The £1m Town Centre Recovery Fund has reopened to high street businesses in Stapleford, and now includes more local businesses, to aid their recovery from the pandemic.

The funding is being made available through the £21m Stapleford Towns Fund which aims to regenerate and revitalise the town.

The scheme is split into two grants to support different aspects of business recovery:

  1. The Business Continuity Grant (BCG) aims to support business resilience and growth over the long term, sustaining occupancy levels within Stapleford Town Centre. This grant will support existing businesses looking to expand the way they distribute their services. It is anticipated a maximum of £200,000 will be spent on this portion of the wider Town Centre Recovery Fund. Under the BCG, eligible businesses will be able to apply for and receive up to a maximum of £10,000, although this higher amount does require match funding.
  2. The Building Development Fund (BDF) is to create buildings of the future; improving accessibility, energy efficiency and the look and feel of Stapleford Town Centre. It is anticipated a maximum of £800,000 will be issued through this part of the fund. Under the BDF eligible businesses will be able to apply for and receive up to a maximum of £100,000, although this higher amount does require match funding.

The Towns Fund Board agreed this month to extend the parameters for applications to include businesses on Bessell Lane, Wellington Street, Middle Orchard Street, to the west end of Derby Road and northeast along Nottingham Road up to Cambridge House so that more are able to benefit.

Many businesses have already been successful in their bids from the first round of funding, including:

  1. 20 Derby Rd, part-funding the conversion of the building into three offices – £97,330
  2. Sun Shine Fish and Chicken, 90 Derby Road, new cooking equipment to offer healthier food – £5,000
  3. Ryan Plumbing and Heating, 137a Derby Road, shopfront signage and showroom fixtures and fittings – £6,000

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