The second phase of the Welsh Government’s £500m Economic Resilience Fund has opened today for applications. The first stage of help from the Welsh Government saw the £100m Development Bank of Wales’ loan scheme fully subscribed in little over a week, with those applications being processed currently.
The fund opened today offers additional financial support to help deal with the coronavirus crisis, and will as a result be vital in helping organisations to manage their cash flow pressures.
This fund has been designed in order to address gaps that are not currently met by other schemes previously announced by the UK Government, Welsh Government and the Development Bank of Wales. This latest phase is targeted at micro businesses, SMEs and large businesses which are of critical social or economic importance to Wales. Applications for this can be made through the Business Wales website.
More than 120 Welsh Government and Business Wales contract staff have been diverted onto processing the many expected applications, in order to ensure that money reaches businesses in need as quickly as possible.
For more help and information, please visit:
Business Wales – COVID-19 Crisis Support Tool
Business Wales – COVID-19 Support for Business
Here at Sailsburys we always want to help our valued customers in any way we can; if you require our assistance throughout this period please don’t hesitate to get in touch.