Wales

Finance Wales' cash 'means 3,700 new or safe jobs'

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Image caption Tomlinson's Dairies expanded after a £22m boost

More than 3,700 jobs have been created or safeguarded following investment in small and medium businesses in Wales.

Finance Wales invested more than £56m in businesses in 2015-16, up by £10m on the previous year, and £79m was raised from private sector funding.

Of those jobs, 1,163 were created and 2,555 were safeguarded.

Companies that benefited included Tomlinson's Dairies in Wrexham, Peerless Gas in Flintshire and Siltbusters in Monmouthshire.

Finance Wales, which uses money from the Welsh Government and other investors, makes investments in Welsh-based businesses, from £1,000 to £3m.

Chairman Gareth Bullock said: "We fill a gap left by mainstream lenders, offering flexible finance solutions to companies who may struggle to get the package they need from the traditional sources of finance.

"Where there is decreased risk appetite in the wider investment market, we're able to step in and take that risk burden to help support ambitious Welsh businesses.

"I'm proud of that, I'm proud of our flexibility and the approach our staff take to tailor deals for micro to medium companies."

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