Record numbers of start-ups and established businesses in West Wales are applying to the Development Bank of Wales (www.developmentbank.wales) for loans or equity up to £5 million.

Last year saw 70 investments totalling over £10 million in the region, with 49 different businesses in Pembrokeshire, Camarthenshire and Swansea receiving support from the bank.

With offices in Llanelli and a team of dedicated professionals, the bank welcomes applications for loans up to £10,000 or bespoke loan and equity packages up to £5 million.

Funding for new products and services is also available, as is finance for capital expenditure or investment in commercial property.

Alun Thomas, the regional manager for West Wales, said: “We understand that local businesses need access to finance that is simple and quick. Working capital makes a big difference to growth and sustainability, which is why we work hard to respond quickly.

“From the purchase of stock and new equipment, new premises, management buy-outs or acquisitions, we know that owner-managed businesses value a commercial approach to investment that is very much tailored for them.

“Quick, local decision-making is critical to our success, and we are proud to say that we work in close collaboration with other government bodies, lenders and advisers like Business Wales and the Federation of Small Businesses.”