Issue details

To request authority for a Covid Recovery Fund of up to £20m plus a 20% contingency of £4m to be established, such funds to be ringfenced for Council Wholly-Owned companies (WOCs) only, from within the existing Business Loans Fund. The authority to approve loans to individual companies and agree terms on a case-by-case basis within the principles set out below to be delegated to the Director of Resources, except that in the case of Lancashire Management Operations Limited, to avoid a conflict of interest, this authority to be delegated to the Chief Accountant.