02-05-2025
Funding for tourism businesses helps put Wales on the map
The Development Bank of Wales is supporting some of our top-rated visitor attractions, bringing value to local economies and communities throughout Wales.
The Development Bank offers various funds for businesses in the tourism industry, including the dedicated Wales Tourism Investment Fund.
What's more, it works closely with Visit Wales so certain projects may also be eligible for grant funding of up to 20%.
Flexible loans between £100,000 and £5million with payback terms of up to 15 years are helping business owners to start-up, scale-up and upgrade visitor experiences, flagship attractions, and places to stay.
You just need to be based in Wales and demonstrate how your business idea or project will stimulate growth in new and existing markets and create and/or safeguard jobs.
(Image: Development Bank of Wales)
Starting or buying a business?
Kathryn Donovan set up Môr a Sawna by the sea in Barry with the help of a loan from the Development Bank.
As the first mobile sauna to be permanently sited in the Vale of Glamorgan, Môr a Sawna overlooks the sea at Barry Yacht Club and is available for booking in 55-minute slots.
Kathryn said: 'Môr a Sawna is benefiting local people and tourists alike, but it wouldn't have been possible without the support of the Development Bank.
'They have been so helpful and enthusiastic, finding solutions rather than barriers to funding and taking the time to help me through the application process.'
Funding to grow and diversify your business
The Crown at Pantygelli near Abergavenny is a thriving pub and restaurant that is popular with tourists and the local community alike.
A £90,000 loan from the Development Bank has allowed owners Amy Norvill and Nicholas Clayton-Ford to invest in three new high-specification lodges.
Amy and Nick said: 'The hospitality sector is tough, but we are fortunate to have the space and the opportunity to diversify so our customers can drink, dine, and stay.
'It is all about thinking differently, and the support from the Development Bank has really helped us to evolve our offering.'
(Image: Development Bank of Wales)
Looking to go green?
Based in Narberth, Pembrokeshire, Wild Lakes is Wales' first wake park and draws thousands of visitors each year.
A new 20kWh solar array has allowed the owners to switch from powering the cables that create artificial surf with a diesel engine to clean solar energy.
It has been funded by a loan of £40,700 from the Development Bank via the Welsh Government-backed Green Business Loan Scheme.
Mark Harris, co-founder, said: 'As an outdoor business in one of Wales' most impressive natural environments, our environmental impact is at the forefront of everything we do.
'We know that this is also really important to our customers, who love our environment and want to work with businesses and attractions that are working hard to preserve it.'
An
economic, social and cultural asset
Clare Sullivan, a Regional Manager with the Development Bank, said: 'Tourism is an economic, social and cultural asset, which is why we want to grow tourism for the good of Wales.
'We're here to help more tourism businesses get the funding that they need to invest in new and existing projects that are helping to put Wales on the map.
'Our message is simple - if you want to invest in the tourism sector in Wales, then come and talk to us.'
Find out more
For further information and full terms and conditions, visit the website.
