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FOOD & BEVERAGES | Alcoholic Beverages
wals.com.br

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Stage

Acquired | Acquired

About Wals

Wals is a Brazilian artisan brewery based in Belo Horizonte.

Wals Headquarter Location

Rua Padre Leopoldo Mertens, 1460 São Francisco

Belo Horizonte,

Brazil

31-3443-2811

Latest Wals News

Where the Development Bank of Wales has invested its £100m Covid loan fund

Aug 11, 2020

Where the Development Bank of Wales has invested its £100m Covid loan fund The fund was launched in March and has supported more than 1,300 firms across Wals Share 14:28, 11 AUG 2020 Sign up to FREE email alerts from BusinessLive - Wales Subscribe When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time. Thank you for subscribingWe have more newsletters Show me See our privacy notice Invalid Email The Development Bank of Wales' £100m coronavirus loan scheme has helped to safeguard more than 16,000 jobs. The development bank, launched its Covid-19 Wales Business Loan Scheme (CWBLS) back in March as part of the Welsh Government's response to supporting businesses hit by the economic fallout of the pandemic and coming under its £500m Economic Resilience Fund. Although oversubscribed, just under £8m of the funding was not drawn down by firms by the deadline of the end of July. That money will now be assigned into a next phase of funding from the development bank, which is wholly-owned by the Welsh Government, to support firms in particularly hard hit parts of the economy, including tourism and leisure. The new funds are expected to be launched in the autumn. Read More CWLBS  carries an interest rate of 2%, with a holiday for the first year which is then rescheduled into the remaining five years of six year terms. Lending was available up to £250,000. As of 30 July a total of 1,331 business accessed loan facilities of just over £92m helping to safeguard over 16,000 jobs. The average loan size was £68,913 with construction, manufacturing, retail and hospitality accounting for almost half of the loans awarded. Take-up was well distributed geographically (see full table below) with 399 companies in Mid and West Wales, 334 in North Wales and 598 in South Wales. With the biggest population of SMEs in Wales, the local authority of Cardiff had the largest slice of funding amongst the 22 local authorities, with total lending of £14.5m to 202 firms. Chief executive of the Development Bank of Wales, Giles Thorley, said: “This has been an exceptionally tough time for small businesses across Wales who have faced enormous challenges to survive this period, protect livelihoods and safeguard jobs. "The strong demand across all the government-backed loan schemes, including our own £100m Covid 19 Wales Business Loan Scheme, shows the need for cash flow support. “As we move to reopen the economy we remain committed to supporting the small businesses community and will continue to work closely with the Welsh Government and other partners as we navigate our economic recovery and address the challenge of helping businesses across Wales restart and recover.” Minister for Economy, Transport and North Wales Ken Skates, said: “The Development Bank of Wales has played a crucial role in helping us deal with the unprecedented pressure coronavirus has placed on our economy. “It’s Covid-19 Wales Business Loan Scheme has seen staff working tirelessly alongside us to provide an essential lifeline to businesses with speed, efficiency and flexibility “The bank has already added significant value to the vibrant business landscape we are fostering here in Wales, and it will be more important than ever as we aim to build back better following the impact of the pandemic and continue our work to drive inclusive growth across Wales.”   Most Recent Most Recent

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