Following the announcement of the £100m Covid-19 Wales Business Loan Scheme, the loan has now opened for applications, with key features and eligibility criteria also being made available.
Available from the Development Bank of Wales for a limited period, the loan is intended to provide support to businesses who are experiencing cash flow difficulties as a result of the pandemic.
The loan is open to all SMEs based in Wales who have been trading 2 years or longer including sole traders and partnerships:
- Loans between £5,000 to £250,000, maximum loan levels apply
- 12-month capital and interest repayment holiday
- No arrangement or monitoring fees
- 2% interest fixed for 6 years (includes the 12 month holiday)
- Partially secured lending depending on the size of the loan, see below for details
If you have any queries please email email@example.com.
The loan scheme will work alongside the UK wide Coronavirus Business Interruption Loan Scheme, other Welsh Government and UK Government support offers, providing more vital options for Welsh businesses.LATEST INFO ON COVID-19