Gov't frees up £10 million for Manx business loans

Companies can borrow up to £250,000

Government has freed up £10 million to support Manx businesses under the Covid-19 pandemic.

The coronavirus working capital loan is for those still stuggling during the global crisis.

A company can receive up to £250,000, which will be made available through Conister Bank, even if it's not a customer.

Government says it's specifically for those businesses that 'cannot access working capital via their banks or do not qualify for assistance via the DLGA.'

It adds it hopes to use a second bank 'in due course'.