Third phase of Stockport LAD Grant Fund Scheme opens for applications

Applications to apply for the latest phase of the Government’s Local Authority Discretionary (LAD) Grant Fund Scheme are now open for Stockport businesses. The application window closes at midnight on Wednesday 8th July.

As of 1pm 24th June, across all three phases of funding, 352 applications for grants had been received by Stockport Council, and £217,500 paid out to businesses in the borough. A further £59,195,000 has been paid through the business rates relief grant scheme, reaching over 5000 businesses in Stockport.

In order to ensure all eligible businesses have the opportunity to apply for the scheme, Stockport Council is administering a phased approach to the LAD grants scheme to assess and quantify the level of demand for funding from businesses that fall within the priority areas set out in the Government guidance and meet the eligibility criteria and evidence requirements. 

The current phase three is accepting applications from businesses which occupy property (including multiple properties in Stockport), or part of a property, with a total rateable value or annual rent or mortgage payments above £20,000 but below £30,000 per annum, and which meet the criteria for being a small business and hospitality sector businesses with rateable values up to £150,000 p.a. but excluding national chains, which meet the criteria for being a small business as set out in this guidance. 

Properties that will benefit from the relief will be occupied hereditaments that are wholly or mainly being used: as restaurants, cafes, drinking establishments, cinemas and live music venues, for assembly and leisure; or as hotels, guest & boarding premises and self-catering accommodation.

Applicants who met the criteria outlined in phases one and two but did not meet the deadline, are also able to apply.

Full guidance on eligibility and information on how to apply for the LAD grant is available from the Stockport Council website.