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Record Investment of £21.3 Million in West Wales Businesses

A - Home Page B - Original Content Carmarthenshire Neath Port Talbot Pembrokeshire South West Wales Swansea
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The Development Bank of Wales has released figures showing record investment in SMEs in West Wales.

Loans and equity totaling £21.3 million benefited 72 businesses across Pembrokeshire, Carmarthenshire, Swansea and Neath Port Talbot in 2018 generating £33.1 million private sector leverage across the region. This compares to £11.6 million in 2017.

Regional Manager Alun Thomas said:

“Despite the continuing uncertainty surrounding Brexit, we had a record number of enquiries during 2018 from start-ups and SME established businesses looking for loans or equity up to £5 million.

“Investment totaling £21.3 million was awarded to 72businesses proving that there is still plenty of appetite for growth in this region; in fact, that’s almost double the £11.6 million in 2017.”

Those to benefit in 2018 include Wales’ only independent oil company Oil4Wales who had a £350,000 loan to fund the development of the Nantycaws filling station. £200,000 was awarded to Dafen based DRL Partitions and £1.5 million for Britain’s first independent tyre comparison website Motokiki.

Alun Thomas continued:

“Access to finance  makes a big difference to growth and sustainability which is why we continue to work hard to help local businesses to thrive. From the purchase of stock and new equipment, new premises, management buy-outs or acquisitions, owner managers want a commercial approach to investment that is tailored to meet their needs. The breadth of funding that we can provide ranges from micro loans of £1,000 to equity of up to £5 million; there really is something for everyone.

“Simple and quick decision making processes coupled with our presence on the ground has certainly helped to boost the level of enquiries with business owners telling us that they value our face to face approach. From entrepreneurs seeing funding for start-ups to established businesses looking to take the next step, we are keen to make sure that 2019 is another bumper year.”

The Development Bank of Wales has a team of eight based in Dafen, Llanelli. This includes newly appointed Clare Sullivan who has joined from HSBC as an Investment Executive.

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The Development Bank of Wales funds businesses that they think will benefit Wales and its people. The ones that will create ripples of growth- those that are more than a good business model or a great idea. They finance responsible businesses – those with a strong social, ethical and environmental standards, as well as real commercial promise.

By providing sustainable, effective finance where options have seemed limited, they bring ambitions to life and fuel possibilities for people, businesses and communities in Wales and beyond.

The Development Bank’s ‘big picture’ view means it can often help with debt and equity finance when options seem limited, doing whatever it takes to make a positive difference, bringing together the right people and working collaboratively to find a way to make things happen for Welsh businesses and for Wales.

Its teams are embedded in local communities, working out of regional offices that give customers direct access to key decision-makers and signposted avenues of support. They understand what’s happening in Wales’ villages, towns and cities – the challenges and the opportunities. They see the potential for business growth as a catalyst for enhancing lives and communities in Wales and beyond.

For more information, visit the Development Bank website at www.developmentbank.wales to find out more.
 

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