Phase four of Local Authority Discretionary grant scheme is now live

Scheme is open to firms in the borough who may have missed previous deadlines but businesses are urged to read guidance before applying

Stockport Council has reviewed the remaining funds available for the Discretionary Grant Scheme following the closure of the third phase of applications to the scheme.

As there continue to be funds available, a fourth phase of applications to the scheme is being offered to businesses that meet the eligibility criteria set out in the guidance.

Eligible businesses that met the criteria for phases one, two, and three, which missed the application deadline for these phases, can make an application in phase four.

The deadline for submitting applications in phase four of the scheme is midnight on Friday, August 7.

The council is processing applications in phase four on a first come, first served basis, and reserves the right to close the phase four of applications early if the funds are exhausted before the application deadline.

Should the funds be exhausted during the phase four then applications will not be processed beyond that point so making an application will not guarantee that you receive a grant.

Businesses eligible to apply for a grant for support with their monthly fixed property costs in phase four are required to be:

• Stockport based small and micro businesses, as defined in Section 33 Part 2 of the Small Business, Enterprise and Employment Act 2015 and the Companies Act 2006
• businesses with relatively high ongoing fixed property-related costs, not based at home, of at least £250 per month
• businesses which can demonstrate that they've suffered a significant fall in income due to the coronavirus outbreak
• businesses which occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000, or £150,000 if they are hospitality or leisure businesses.

Grants awarded to businesses eligible under the above criteria will be assessed against the total evidenced fixed property costs incurred by the business during March to June 2020.

Based on this information, grant awards will be either £2,500, £5,000, £7,500, £10,000 or £25,000.

In phase four there is also an opportunity to apply for a fixed grant of £2,000 for registered businesses based in Stockport that meet either of the following criteria:

• home based or self-employed that have not had access to any other financial support linked to Covid-19, that have had a reduction in income due to Covid-19
• fixed property costs below the £250 per month de minimis level set for earlier phases of the discretionary grant scheme and have not had access to any other financial support linked to Covid-19, that have had a reduction in income due to Covid-19.

Applicants for the fixed grant of £2,000 must complete a declaration to say that their income has been reduced as a result of the impact of Covid-19 and provide bank statements supporting this - more information on this is in the guidance.

Due to this scheme being provided on a first come, first served basis, applicants who do not provide the required supporting evidence with their application may have their application rejected. Please ensure you read the guidance before applying and include everything that is asked for.

Further information and support with your application can be accessed by emailing
SKLADGRANTS@stockport.gov.uk