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Thursday, October 17, 2013

Fledgling firms urged to apply for loans scheme

FLEDGLING firms and entrepreneurs in Clwyd South are being urged to take advantage of a Welsh Government initiative by Labour Assembly Member Ken Skates.

Clwyd South AM Mr Skates says start-up businesses in his constituency can benefit from the low-interest loans scheme recently announced by Economy Minister Edwina Hart.

He said: “The introduction of these loans is part of Welsh Labour’s comprehensive support package for young companies and will help fledgling firms and entrepreneurs get up and running in business.

“Encouraging people to start their own businesses is an important part of our strategy for economic growth, and Wrexham County Borough Council is one of the five providers who will approve applications.

“I would strongly encourage anyone in Clwyd South who is looking to set up their own company or is just getting started in business to make enquiries and see if they’re eligible. To find out more call the Business Wales Helpline on 03000 603000 or visit”

The minimum loan is £1,000, with the average around £4,500. The loans are to be paid back within five years at a fixed rate of interest, currently set at 6%. 

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