Canterbury Businesses Receive $370,000 from Recovey Trust

8 December 2011

Canterbury Businesses Receive a Further $370,000 from Recovery Trust

Giving local joiner John Davis the tools to continue his trade is just one example of how the Canterbury Business Recovery Trust is helping revive local businesses still struggling after the earthquakes.

John Davis’ business Positive Image Joinery was one of 21 businesses that received support from the Trust during November. In total the Canterbury Business Recovery Trust distributed $372,193 to local businesses last month, made up of $285,132 in grants and $87,061 in interest free loans.

In the last six months the Trust has distributed a total of $3.1 million and has helped around 210 Canterbury businesses.

John Davis received a $10,000 grant from the Trust to assist with the cost of replacing his pre-glue edgebander which was damaged in the earthquake. An edgebander is a minimum requirement for a joinery shop and is a must if John wants Positive Image Joinery to be accredited for work from Fletchers, but the $16,000 price tag was too much for John, who has already personally invested more than $8,000 in replacing equipment broken in the earthquake.

“I’m not normally a lucky guy but this grant from the Canterbury Business Recovery Trust is fantastic – it came as a real surprise. I’ve always just operated on my own and to have someone come in and give me a leg up and a bit of support when I was really in need is amazing,” says Mr Davis.

He says he’s now planning on hiring another staff member next year.

“This grant is going to give me the tools and confidence to grow, as I can now be accredited for the rebuild work and I have the equipment to do the work effectively and efficiently.”

The Canterbury Business Recovery Trust was established after the Christchurch earthquakes to provide cash injections into strong but earthquake-affected businesses. The Trust is administered by Recover Canterbury.

Recover Canterbury Communications Manager Pip Tschudin says many businesses are still struggling to find the cashflow to meet the overwhelming costs associated with the earthquake.

“More than half the funds distributed during November were to help with the costs of relocation or replacing broken equipment. This financial assistance is a vital lifeline for many businesses, as it allows them to get back to work and back to growing their business and the Canterbury economy,” says Mrs Tschudin.

The Canterbury Business Recovery Trust is continuing to accept donations.

To apply for assistance from the Canterbury Business Recovery Trust contact Recover Canterbury on 0800 50 50 96 or go to www.recovercanterbury.co.nz.

About the Canterbury Business Recovery Trust
The Canterbury Business Recovery Trust was established after the Christchurch earthquake to help businesses survive, revive and thrive. The Trust is administered by Recover Canterbury and provides cash injections into strong but earthquake-affected businesses. 100% of the funds donated to the Trust go to supporting Christchurch businesses.

Some of the key expenses businesses are requesting funds for include business planning and development costs, costs associated with relocation and fit out, access to expert advice and assistance, marketing costs and bridging finance.

The Trustees of the Canterbury Business Recovery Trust are Bruce Irvine, Andrew Thorburn, Humphry Rolleston, Lady Adrienne Stewart and Sir John Anderson.

About Recover Canterbury
Recover Canterbury was established after the Christchurch earthquakes to accelerate business recovery and prepare businesses for future growth. It is a collaboration between the Canterbury Employers’ Chamber of Commerce and the Canterbury Development Corporation, along with various government agencies involved in business support.

Recover Canterbury offers a wide range of services and resources to help businesses recover and revive, including advice, training and mentoring, referrals to professional services, assistance with business issues such as raising capital and access to the financial assistance provided through the Canterbury Business Recovery Trust.

ENDS

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