With interest rates rising, Mynd Amdani is bucking the trend and offering businesses an interest free loan.
Mynd Amdani is a scheme that lends money to young people in the Dyffryn Nantlle area who want to start a business or want to develop a business. They are offering an interest free loan of up to £5000 to people up to the age of 25 who want to start a business in the valley or to help them develop their business further.
Mynd Amdani is a scheme run by Arloesi Gwynedd Wledig and Antur Nantlle, and is based on Be Nesa Llŷn, an interest free loan fund run by AGW since 2015 on behalf of a group of business people in the area who were keen to give back to the community and help young people to establish or develop a business in the Pen Llŷn area. Since 2015 the money has been recycled so many times, that over £70,000 has been distributed to 15 businesses and social enterprises in the area. It is therefore safe to say that the fund is a resounding success.
Be Nesa Llŷn has enabled a number of people across the area to start a business to be able to live and work in their local area, including Tanya Whitebits, Wyau Llŷn and Tylino.
"The loan has really helped the business - it has helped me develop the business in terms of revenue... I hope it develops and gives someone else a chance to start their own business locally as well." Rebecca Hughes, Tylino
Now AGW has partnered with Antur Nantlle to establish a similar local investment model in the Dyffryn Nantlle area, called Mynd Amdani.
As well as offering interest free loans, there will also be business support available, as Robat Jones from Antur Nantlle explains:
“Antur Nantlle has been helping businesses in the area since 1991 and we’re very excited to be working with AGW to bring this fantastic opprtunity to young people in Dyffryn Nantlle. The area is a great place to run a business, it’s very central and has a large number of small independent businesses working here. The spirit of entrepreneurship is strong.”
The successful applicants will also have the opportunity to work with The Enterprise Hub, who provide entrepreneurs with the knowledge, guidance, inspiration and space to transform their ideas into a successful business. Services offered include a community of like-minded individuals to share ideas and offer encouragement, business advice and a range of educational & social events.
With the recent rise in interest rates, Mynd Amdani is offering an unmissable opportunity to young entrepreneurs in the Dyffryn Nantlle area!
For more information go to https://www.arloesigwyneddwledig.cymru/en/prosiectau/mynd-amdani/ or email email@example.com
This project has received funding through the Welsh Government Rural Communities – Rural Development Programme 2014 – 2020, which is funded by the European Agricultural Fund for Rural Development and the Welsh Government. It is also part funded by the Nuclear Decommissioning Authority (NDA) and Gwynedd Council.