Issue - meetings
ESTABLISHMENT OF A TRAFFORD SMALL BUSINESS LOAN FUND TO SUPPORT NEW START AND EXISTING BUSINESSES IN THE BOROUGH
Meeting: 24/06/2019 - Executive (Item 10)
PDF 364 KBTo consider a report of the Executive Member for Housing and Regeneration.
Decision:
1. That the establishment of the Trafford Small Business Loan Fund be approved.
2. That authority to enter into a formal agreement with GC Business Finance to manage the Trafford Small Business Loan Fund be delegated to the Corporate Director for Place.
3. That an update report be received on the Trafford Small Business Loan Fund within six months of its launch.
4. That approval be given to the changes to the Trafford Town Centres Business Growth Programme; and that an update report be received at the same time as the report referred to at 3 above.
Minutes:
The Executive Member for Housing and Regenerationsubmitted a report which set out the proposal to establish a new Trafford Small Business Loan Fund to provide affordable financial support aimed at new start and existing businesses in the borough. The Fund would further enhance the Council’s ‘open for business’ approach and provide a direct mechanism to support local businesses in the borough. The report also identified proposed amendments to the current Town Centres Business Growth Programme that supports businesses taking vacant retail units in the town centres, to ensure its continued effectiveness. Questions raised by Members related to the interface with the Town Centres Loan Fund, accounting descriptions of funds deployed and the extent to which the fund was intended to support carbon reduction in the business economy.
RESOLVED -
(1) That the establishment of the Trafford Small Business Loan Fund be approved.
(2) That authority to enter into a formal agreement with GC Business Finance to manage the Trafford Small Business Loan Fund be delegated to the Corporate Director for Place.
(3) That an update report be received on the Trafford Small Business Loan Fund within six months of its launch.
(4) That approval be given to the changes to the Trafford Town Centres Business Growth Programme; and that an update report be received at the same time as the report referred to at 3 above.
