Trafford Council is set to re-launch a highly successful interest free loan scheme to support town centre businesses through the recovery.
The Trafford Town Centres Business Growth Fund is to open next month to give businesses the opportunity to apply for an interest free loan of up to £10,000.
The scheme, which has issued loans to over 40 businesses since 2013, was closed to new businesses last year when the Covid-19 pandemic hit UK shores and forced non-essential shops to close.
Looking to the future and the recovery of our town centres it has been decided that the scheme can once again be opened to new applications. The scheme, therefore, will open in line with the reopening of non-essential retail which is scheduled for April 12, 2021.
The scheme offers opportunities for new and existing businesses, which will be occupying currently vacant premises, to apply for an interest free loan of up to £10,000. In addition, the programme also has a marketing loan element which is also interest free and can be used to help deliver recovery and growth plans.
The level of impact the response to Covid-19 has had on town centre businesses has been unprecedented, and so, in supporting our existing loan recipients, Trafford Council implemented a repayment holiday in March 2020. The repayment holiday has recently been extended until the end of June, 2021, which the Council hopes will help towards the survival of these businesses.
Cllr James Wright, Trafford Council’s Executive Member for Housing and Regeneration, said:
“Trafford Council is committed to providing targeted support and creating successful and thriving places within the borough. We have therefore made it a priority to support businesses within our town centres to ensure they have every opportunity to thrive in Trafford.
“We would like as many small businesses as possible to take advantage of this interest free loan to ensure their success in the future. We totally understand how business have suffered and struggled through the various lockdowns and would like to help them as much as possible.”
For anyone interested in finding out more about the Trafford Town Centres Business Growth Programme please visit www.investintrafford.co.uk, email to email@example.com or call 0161 912 4176.
Posted on Tuesday 23rd March 2021