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.

FULL STORY IN OUR PRINT AND E-EDITIONS