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.
FSA releases new progress report on financial crime defences
Changes planned for how government-run companies prepare accounts
New business guide deals with stopping WMD financing
Office space up for rent at Ronaldsway Airport
Have your say on the future of the Island's economy
Port St Mary hosts first business support drop-in session today
Government releases guidance for businesses ahead of vape tax
Survey shows low approval rating for Island clothing shops
