Government Business Loan Scheme To Close

The Government scheme offering loans to help businesses through the pandemic is being wound up at the end of this month.

It was launched last May and has lent nearly £4 million to around 70 Jersey businesses in that time.

The Treasury Minister, Deputy Susie Pinel, says as only an 'extremely low' number of applications were received in the second half of this year, the loans appear to no longer be needed:

"Given the extremely low use of the Scheme during the second half of 2021, as banks have been able to lend through normal lending criteria, it is clear that the BDLGS is no longer required to support the provision of credit to local businesses. The Scheme will therefore close on 31 December 2021.

Deputy Susie Pinel

Jersey Business remain available to assist local companies who wish to understand the commercial borrowing options which may be available to them."

All other covid support measures are due to continue until the end of March next year.

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