APPLICATIONS for the £100 million Covid-19 Wales Business Loan Scheme are now open.
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 recent virus pandemic.
The loan is open to all small and medium-sized enterprises (SMEs) based in Wales, who have been trading for two years or longer, including sole traders and partnerships.
Key features and eligibility criteria for the loan consist of the following:
- Loans between £5,000 to £250,000, maximum loan levels apply
- 12-month capital and interest repayment holiday
- No arrangement or monitoring fees
- 2 per cent interest fixed for six years (includes the 12 month holiday)
- Partially secured lending depending on the size of the loan
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.
Further information on the Covid-19 Wales Business Loan Scheme or to apply, visit https://developmentbank.wales/covid-19-wales-business-loan-scheme
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