Business Loan Fund
Small loans made by the Fund will be between £25k and £100k with the opportunity to borrow larger amounts (Asset loan of up to £750k), provided that it has been supported by a guarantee based on a good value asset (typically land and buildings). The length of a usual term of a small loan will be between 36 and 60 months; an Asset loan will usually be at least 60 months.
The Fund will be implemented within the boundaries of Gwynedd Council and every business should either have its operating centre or a substantial number of its permanent full-time workforce within the boundaries of Gwynedd. Eligibility has been restricted to businesses (including social initiatives), that are eligible as Small and Medium businesses (SMEs).
The purpose of the loan is to establish or develop a business and not to re-pay any existing debts or other loans.