Decision details

Award of an SME Growth Fund Grant to Rapid Labs Limited

Decision Maker: Business & Economic Growth Portfolio Holder

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To decide whether to award a grant from the Council’s SME Growth Fund to Rapid Labs Limited, an established company in Little Bentley.

Decision:

To award a grant of £80,000 to Rapid Labs Limited from the Council’s SME Growth Fund.

Reasons for the decision:

The company met all the eligibility criteria in order to submit a Full Application to the Fund. The application was put before the SME Growth Fund Grant Panel and all three votes returned were in favour of approving the grant funding in full.

Alternative options considered:

Either to refuse the grant or to reduce the amount offered.

Interests and Nature of Interests Declared:

None

Publication date: 22/07/2019

Date of decision: 19/07/2019

Effective from: 30/07/2019