The Covid-19 Wales Business Loan Scheme is fully subscribed after more than 1,500 applications were received in just over one week.

The £100 million scheme was launched by the First Minister on Monday 30 March as part of the Welsh Government’s £500 million Economic Resilience Fund to support businesses in dealing with coronavirus outbreak.

The first loans were approved within three days of the fund launch, with the first loans reaching applicants by the end of last week.

Funding Circle, the small business loans platform, has today been approved for accreditation by the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS), term loan variant. 

Launched on 23 March, the Coronavirus Business Interruption Loan Scheme (CBILS) has now been significantly expanded 

Silicon Valley Bank (SVB) has announced COVID-19 Response & Community Support initiatives that stem from SVB’s mission to increase its clients’ probability of success, champion the innovation economy and support the global communities in which the company operates. 

Announced by the Chancellor at Budget 2020, the Coronavirus Business Interruption Loan Scheme (CBILS) is open for applications and can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

Watersport and sailing enthusiasts will be setting sail from Lydstep when the Pembrokeshire Performance Sailing Academy opens a second centre this Easter, after securing new funding from the Development Bank of Wales.

Assetz Capital has become the first property-focused marketplace platform to receive funding from British Business Investments (BBI), a commercial subsidiary of the British Business Bank.

Just Play Golf has received a £50,000 micro loan from the Development Bank of Wales to help buy and fit out a golf range in Penrhys, Rhondda Cynon Taff.  

The brainchild of Matthew Phythian, Just Play Golf wants to make the new range a valuable community resource with one-to-one and group coaching and lessons available for people living in the area. Matthew achieved his own PGA qualification through a social enterprise that offered qualifications and training in a range of sports to deprived communities.

The Northern Powerhouse Investment Fund (NPIF), which is delivered by British Business Bank has invested a total of £2.5m into businesses based at Alderley Park, Cheshire, the UK’s largest single site life science campus.  The £2.5m invested into businesses at Alderley Park forms part of NPIF’s £10m milestone that was recently achieved in the Cheshire and Warrington region. Alderley Park offers bioscience facilities for life science companies at every stage and is home to over 200 businesses. It includes a range of workspaces, events and a community that encourages businesses to collaborate, innovate and grow.

Triple Point Investment Management has announced a £10m facility into WeFlex, a leading provider of vehicles to the Ride-Hailing market in the UK. Having worked with the team at Weflex for the past 5 years, Triple Point will back their growth and development in the UK. The funds will be used by WeFlex to further increase its operations across the country, expand its fleet of electric vehicles, as well as other hybrids to further support the green initiatives in the UK ride-hailing market.

Newly formed Manchester based property developer Northern Property Consortium (NPC) has embarked on its maiden project after agreeing a key short term finance deal worth £550,000 with leading independent SME funding specialist, One Stop Business Finance.

The Development Bank of Wales has invested £200,000 to support the leasehold purchase and refurbishment of the Costcutter store in Knighton, Powys.