Government makes business support packages "more flexible".
Two loan agreements which support Isle of Man businesses that have been impacted by the pandemic have been amended to allow greater flexibility.
The Disruption Loan Guarantee Agreement provides up to £60 million through five of the Island’s commercial banks, 80% of which is underwritten by the Manx Government.
The Working Capital Loan Agreement provides credit facilities of up to £10 million, 100% of which is underwritten by the Isle of Man Government.
It is hoped they will act as a safety net for businesses that can't access working capital or don't qualify for assistance via the Disruption Loan Guarantee Arrangement.
Treasury Minister, Alfred Cannan said the arrangements have supported 102 businesses with loans totalling £5.5m, supporting over 900 jobs.
You can find out more about the changes here on the government website.
PokerStars Isle of Man faces uncertainty over Flutter job cuts
Businesses invite to sponsor Island Games 2029
Isle of Man to change sanction rules following UK
Island company unveils AI voicemail alternative
Deadline approaches for kiosk lease applications
Updated sanction lists across four different countries
Peel Lifeboat receives generous donation
Beach sauna plans submitted for the south of the Island
