The Welsh Assembly Member for Aberconwy – Janet Finch-Saunders AM – has today (28 April) welcomed the Chancellor's announcement of ‘Bounce Back Loans’, allowing businesses to borrow between £2,000 and £50,000 and access the cash within days.
Under the scheme, loans will be interest free for the first 12 months. The UK government will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months. No repayments will be due during the first 12 months. The UK Government say that businesses can apply online through a short and simple form.
Commenting on the announcement by Rt. Hon Rishi Sunak MP, Mrs Finch-Saunders said:
“I am acutely aware of the concern shared by many businesses throughout the Conwy Valley about the impact of COVID-19 on their income and staff.
“The UK Government have announced an unprecedented package of support to protect jobs, businesses and incomes. This latest ‘Bounce Back Loan’ scheme will offer a much needed lifeline to many businesses throughout the Conwy Valley.
“This carefully targeted scheme will provide help to those businesses that need it most. It is confirmation that public officials are not only listening, but reacting to the concerns of business owners.
“I remain steadfast in my commitment to help Conwy-based business owners navigate these incredibly challenging times. I urge any individual with concerns to get in contact with my office so that I can begin making representations on your behalf.
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