Govt loans encourage local entrepreneurship

Govt loans encourage local entrepreneurship

Three local business owners plan to expand their businesses with the help of loans awarded by the Gibraltar Government’s Gibraltar Business Nurturing Scheme [GBNS].

Swift Dry Cleaners, Wonderland costume shop and Special Ops laser tag were all approved for the scheme.

Since the Gibraltar Government set aside £250,000 for this new scheme a total of seven applicants have successfully acquired loans. The idea behind the scheme is to encourage locals with a business idea or those wishing to expand.

Businesses can apply for a maximum loan of £25,000 and the loans are to be paid back by the applicants with 2% interest.

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