The Welsh Government and the Development Bank of Wales have announced the £100m Covid-19 Wales Business Loan Scheme to support businesses affected by the Covid-19 outbreak.
The Scheme will be available from the Development Bank of Wales for a limited period. It is intended to provide support to businesses who are experiencing cash flow difficulties as a result of the pandemic.
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.
· 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