Latest news with #GreenBusinessLoanScheme
Business News Wales
a day ago
- Business
- Business News Wales
Development Bank of Wales Announces a £10 Million Extension to the Green Business Loan Scheme
Tim Harper, Thorncliffe Building Supplies; Bear, Thorncliffe Building Supplies; Scott Hughes, Development Bank of Wales The Welsh Government has confirmed an increase of £10 million to the available funding for the Development Bank of Wales to help accelerate the decarbonisation efforts of Welsh businesses. First launched in March 2023, the Green Business Loan Scheme is now being extended to £20 million with funding available until 2028. To date, over 30 Welsh businesses have benefitted from tailored support through the scheme, delivering forecasted carbon savings of more than 28,000 tonnes over the lifetime of their projects. This includes a loan of £3.2 million for Mold-based Thorncliffe Building Supplies to invest in a new wash plant and water treatment system that will reduce the company's use of landfill. As one of the largest independent builder's merchants in North Wales, Thorncliffe Building Supplies provides an extensive range of building, timber, steel, plumbing and heating supplies, and plant hire, along with a waste management and skip hire service. With five sites across North Wales in Dyserth, Ewloe, Rhuddlan, Wrexham and Abergele, Thorncliffe is owned and managed by husband and wife duo Deborah and Tim Harper. Established in 1987, the company now employs 265. Managing Director Tim Harper said: 'We are constantly evolving as a business to diversify and strengthen our customer offering while remaining compliant with regulatory and legislative requirements. 'Reducing waste and cutting our carbon emissions is a key priority for us hence our decision to invest in a new washing plant. This will allow us to process our construction waste and sub-soil on-site rather than use landfill. The facility will wash and sort the waste into different grades of aggregates that can then be re-sold so it's a win-win all round.' Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: 'This £10m extension to the Green Business Loan Scheme demonstrates the Welsh Government's commitment to supporting businesses on their journey to net zero. We are ensuring even more firms can access the support they need to reduce their carbon footprint while strengthening their competitiveness. 'With over 30 businesses already benefitting and forecasted carbon savings of more than 28,000 tonnes, there is clearly a strong appetite for sustainable innovation amongst Welsh enterprises who are supporting our ambition to grow the economy.' Bethan Cousins is New Business Director for the Development Bank. She said: 'The success of the Green Business Loan Scheme is a testament to the ambition and innovation of Welsh businesses in tackling climate change. 'Thorncliffe is a great example of how the scheme is helping businesses across Wales to 'invest to save' by providing loans with discounted interest rates to make energy efficiency improvements and implement decarbonisation initiatives. This further investment from Welsh Government will ensure we continue driving meaningful change, supporting businesses of all sizes to adopt technologies that reduce emissions and strengthen energy resilience.' With a simple application process, the Green Business Loan Scheme supports a broad range of energy efficiency and low-carbon technologies, including heating, ventilation, heat pumps, waste management solutions, and building fabric improvements. As part of the scheme, businesses can access support to engage with an energy consultant to assess needs and shape practical decarbonisation strategies. Upfront capital repayment holidays are available for companies that have been trading in Wales for at least two years as part of an innovative package of support that is aimed at reducing operational costs, managing energy risk, and supporting businesses on their journey to net zero. For more information and guidance, visit: Green Business Loan Scheme – Dev Bank
Wales Online
08-07-2025
- Business
- Wales Online
Fuel your business ambitions with the Development Bank of Wales
Whether you're turning a new idea into a reality or planning to scale your existing business, the Development Bank of Wales is here to help. With regional teams based throughout the country, the Development Bank provides flexible and tailored funding to support Welsh businesses at every stage of their journey. Whether you need funding to launch a new product, refurbish premises, or grow your team, loans are built to be flexible and accessible. Read on to find out more. Business loans designed to fit your needs The Development Bank offers a range of business loans to suit businesses of all sizes and ambitions: Micro loans from £1,000 to £100,000 to help small businesses get started or move forward. from £1,000 to £100,000 to help small businesses get started or move forward. Larger loans of up to £10 million to support established companies looking to expand or relocate to Wales. of up to £10 million to support established companies looking to expand or relocate to Wales. Property development finance for residential, commercial, and mixed-use developments - up to £10 million is available. Make your business greener - and more efficient The Green Business Loan Scheme helps Welsh businesses make environmentally conscious investments which help cut energy bills and reduce carbon emissions. With uncertainty around energy costs and increasing environmental targets, now is the perfect time to take action. The scheme offers: Discounted fixed-interest rates Capital repayment holidays Flexible patient repayment Take Wild Lakes, for example. As Wales' first wake park, this Narbeth-based business has switched to solar power following a £40,700 loan from the Welsh Government-backed Green Business Loan Scheme. The new 20kWh solar array has allowed Wild Lakes' owners to switch from powering the cables that create the artificial surf in its wakeboarding park with a diesel engine to clean solar energy. Eligible projects Eligible projects include: Upgrading heating, ventilation, and air conditioning systems Improving building fabric through insulation, double glazing, and LED lighting Installing renewable energy like solar PV or heat pumps Enhancing water efficiency and waste reduction Replacing or improving key equipment with greener technology To qualify, businesses must be based in Wales and have been trading for at least two years, with one set of filed annual accounts. Equity investment to power high-growth ambitions Equity investment may offer the ideal solution for companies needing capital to scale up or innovate quickly. The Development Bank can invest from £50,000 to £10 million, with ongoing support from an experienced team and access to a wide investor network. Equity finance is a powerful tool for: Tech start-ups that lack collateral but have strong intellectual assets Established businesses with ambitious expansion plans Management teams undertaking a business buy-out Business owners preparing for sale and seeking to boost value It's also a flexible option that can complement traditional lending, giving businesses the firepower to reach their full potential. More than just finance What sets the Development Bank of Wales apart is its deep commitment to Welsh businesses and communities. Alongside funding, customers benefit from: Local, relationship-based support Access to industry experts and professional networks A long-term partner who understands the challenges of growing a business in Wales Whether you need patient capital to fund a transition, strategic equity to scale quickly, or a green loan to modernise sustainably, the Development Bank can tailor support that fits your vision. Find out more Why not pop along to one of the breakfast meetings or coffee mornings that your local team from the Development Bank will be hosting over the next few months? It's an opportunity to get to know the team and find out more about the funding available. You can register for events by emailing event@ In the meantime, if you're ready to take your next step, visit or call 0800 587 4140 to speak with a member of the team.
Wales Online
02-05-2025
- Business
- Wales Online
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.
