Corporates receive quake grants of $5m-plus
Canterbury firms receive business recovery trust recovery grants.
The Canterbury Business Recovery Trust’s handouts have now topped $5 million.
It has distributed $5,034,078 to 325 earthquake-affected Canterbury businesses.
The trust is administered by Recover Canterbury and provides financial assistance “to viable businesses that have strong potential for recovery and future growth”, according to a prepared statement.
To date, $5.4 million has been donated to the trust.
Taking into consideration repayment of loans, on-going donations and the refunding of GST, the trust has a little less than $1 million remaining to distribute.
Donations are continuing to flow in, including some from previous recipients.
The main expenses that businesses required funds for included $1.9 million for sales and marketing, $1.8 million towards relocation and fit-out costs, $551,000 towards operating costs, $509,000 for business development and $176,500 in bridging finance.
Other smaller expenses include recruitment and training, and development.
One example is Deep South Ice Cream, which last week received a grant to buy new freezer units and sale materials for outlets nationwide.
The company lost more than $200,000 of income when it was forced to close a number of its outlets.
The trustees of the Canterbury Business Recovery Trust are Bruce Irvine, Andrew Thorburn, Humphry Rolleston, Lady Adrienne Stewart and Sir John Anderson.
Chris Hutching
Thu, 07 Jun 2012
Thu, 07 Jun 2012
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Corporates receive quake grants of $5m-plus
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