Issue - meetings

(1)  Mr Smith introduced the report which outlined a proposal to allow Thurrock companies limited access to loans from the Kent and Medway Business Fund (KMBF) under the same terms and conditions as those offered to Kent and Medway companies.

(2)      RESOLVED that the proposed decision to be taken by the Cabinet Member for Economic Development to delegate authority to Director of Economic Development to:

(i)    Enter into relevant contracts, legal agreements and put appropriate arrangements in place required to implement this decision, allowing Thurrock Companies to access loans from the Kent and Medway Business Fund (KMBF);

(ii)  Finance loans from recycled loan repayments previously obtained from Thurrock companies that received funds via the former RGF Tiger programme; and

(iii)Agree that these loans shall be subject to the same rules, criteria and administrative charges as loans that are allocated under the existing KMBF to Kent and Medway companies,

be endorsed.