Essex CC is to make £50m available for lending to local businesses. The scheme – Banking on Essex – will see short-term, small overdrafts and loans capped at £100,000 given to businesses. These will be jointly funded by the council and partner banks. The council will also provide support to businesses in preparing their pre-application paperwork. And partner banks will create a one-stop-shop for all advice relating to loans, including the Enterprise Finance Guarantee and Business Link. This week the council also approved plans for an inter-authority agreement with district and borough councils designed to increase recycling performance. The council aims to reach 50% recycling in three years.
