Development Bank of Wales Loans

Covid-19 Wales Business Loan Scheme

What is it?

The Welsh Government and the Development Bank of Wales announced the £100m Covid-19 Wales Business Loan Scheme to support businesses affected by the Covid-19 outbreak.

The Development Bank is reporting that due to the very high level of demand the scheme is now fully subscribed. It is advising businesses seeking a loan to look into the Coronavirus Business Interruption Loan Scheme.

Key features:

  • 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

How do I access it?

Details of the fund, eligibility and application process can be found on the Development Bank of Wales’s website.

Existing Development Bank customers

What is it?

The Development Bank (DBW) has put in place business continuity measures to ensure its portfolio teams are available and can continue to support businesses.

3-month repayment holiday:

To help limit and manage the commercial impact of Covid-19, DBW is offering a 3-month capital and monitoring fee repayment holiday for customers on request.

Cash flow management may be a key concern for many businesses, and this arrangement will remain in place until 30 June 2020.

DBW is unable to offer this service to property development loans.

How do I access it?

If you would like to arrange a capital repayment holiday, download the form and return it by email to [email protected] at least 7 days before your direct debit is due.

If you have any other concerns or need to speak to DBW about your investment, please contact your portfolio executive or email [email protected]

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