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Town centre loan fund

We have a loan fund of £2,000,000 from the Welsh Government as part of the Town Centre Loan scheme.

The areas covered by the scheme include Swansea city centre and Morriston town centre.

Town centre loan - Swansea city centre boundary map (PDF) [1MB]
Town centre loan - Morriston centre boundary map (PDF) [1MB]

The repayable funding is offered to owners or potential owners of properties for the purpose of reducing the number of vacant, under utilised and redundant sites and premises in town centres and to support the diversification of the town centres by encouraging more sustainable uses for empty sites and premises, such as residential, leisure and key services. The repayable funding can be used:

  1. To acquire and unlock sites and premises with the intention of packaging and selling a proposal on the open market within an agreed timeframe;
  2. To redevelop or refurbish sites and premises within an agreed timeframe; and
  3. To provide loans to third parties for repayment within an agreed timeframe.

Loan applications for the refurbishment of existing properties have to include a comprehensive package of works. The renewing or upgrading of existing shop fronts, signage, windows etc on their own will not be eligible for funding.

Applications for the interest free loans are up to a maximum of £1,000,000 for a loan term of up to 5 years. We have the flexibility to offer staged repayments or to agree to a one off repayment at the end of the loan term. An administration fee will be applied to cover costs associated with assessing, processing and administering the loans.

The application process involves two stages. Stage 1 being an expression of interest (EOI) form and stage 2 being full application. Successful applicants following the EOI stage review will then be invited to complete and submit a full application. Guidance for the stage two full application form is in development and will be available shortly.

A robust due diligence process will be undertaken to ensure that all relevant information on the applicant and proposal is considered which will include assessment of credit risk, eligibility of proposal and the viability of the proposal.

A legal charge will also be required to be placed on property or land owned by the applicant equal to the value of the approved loan following verification of equity prior to the loan being issued. Personal guarantees can also be considered. State aid rules apply and the authority will be required to demonstrate compliance.

Recipients of Homes above shops (HAS) or Property Enhancement Development Fund (PEDF) property grants will only be considered for the loan fund in exceptional circumstances.

For further information and to express your interest email

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