Businesses in Wales have received £150m in Covid-19 emergency grants in the first week of the scheme from the Welsh Government.
As part of a £1.7bn support package from the Cardiff Bay government grants of £10,000 and £25,000, depending on the rateable value of trading properties, are on offer.
As in England the grants of £25,000 are being made available for retail, leisure and hospitality businesses occupying properties with rateable values of between £12,001 and £51,000.
It is estimated that there are up to 8,500 eligible properties in Wales. If all drawn down the total support package would be around £212m.
A £10,000 grant is also being made available to all businesses, eligible for small business rates relief, with rateable values of £12,000 or less. It is estimated that there are up to 63,500 eligible properties in Wales.
If all drawn down it would represent a total support package of around £635m.
The Welsh Government said that so far 11,000 firms have shared in £150m of grant funding to date, with far more to come in the coming days and weeks.
As well as grants for small businesses, the Welsh Government's £1.7bn emergency support package includes year-long rates holiday.
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It also contains a £500m Economic Resilience Fund, providing grants to a range of businesses, from micro-firms and charities up to some of Wales' biggest employers.
However, the Welsh Government have yet to publish the criteria for grants, like whether non VAT registered business, which number around 100,000, will be eligible.
The fund also includes a £100m new loans scheme administered by the Development Bank of Wales, with funding of up to £250,000 fixed at 2% interest, which along with capital repayments are being deferred for a year.
The development bank, which is wholly-owned by the Welsh Government, has already received more than 500 loan applications., with some already in receipt. Security taken will be a 20% personal guarantee to a maximum of £25,000 for all investments and for deals over £100,000 a debenture will also apply.
The guarantee position for the £330bn 海角视频 Government Coronavirus Business Interruption Loan Scheme (CBILS) administered by the British Business Bank, and lent via high street banks, has been dropped for loans up to £250,000.
The Welsh Government could provide a guarantee of 100%, particularly as the £100m is their finance and is managed by the Development Bank of Wales. They have been asked if they plan to amend the loan scheme.
Firms in Wales are entitled to the loans under the British Business Bank scheme.
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In a statement the development bank said:"The £100m Covid-19 Wales Business Loan Scheme does not benefit from the 80% guarantee provided by CBILS to other lenders.
"To secure a small degree of protection for public funds and reflect the favourable terms on which the loans are offered, a personal guarantee of 20% up to a maximum of £25,000 is required. Unlike those taken by other lenders the Development Bank of Wales does not take principal private residences as security to support a personal guarantee.
“Since last Monday when the scheme was announced we have seen exceptional demand and have moved all parts of the business to process loans and offer a lifeline to as many small businesses as possible.
"With the support of the Welsh Government, we have reacted quickly, however our scheme will not be sufficient to meet the entire need and so we welcome the updates by the British Business Bank and call on the high street banks and others to maximise access to CBILS.
" We sincerely hope that mainstream lenders now act on their responsibility to support Welsh businesses.”
First Minister Mark Drakeford said: “This is a very tough time for businesses in all parts of Wales and as a government we are absolutely committed to supporting them in dealing with the outbreak of coronavirus.
“The package of support we have announced is wide-ranging and will be vital in getting the business community through this difficult period.
“Thousands more businesses will receive grants as they are processed and all who are eligible will be supported.
“Local authorities are doing an absolutely incredible job in ensuring firms receive these grants and I’d like to thank them for rising to the challenge and doing all that they can to get money out quickly to those who need it.
“The Welsh Government will continue to do everything possible to help businesses handle the impact of the virus and recover.”
Economy Minister Ken Skates said: “We made a commitment to cut the red tape and get funds out to businesses quickly and I am pleased we are doing exactly that.
“These grants are going to be crucial for businesses to deal with a time like we have never experienced before.
“There is a flow of funding reaching more businesses by the day and that will carry on as local authorities continue working hard to get it out of the door and to those in need of it.”
Anthony Hunt, Welsh Local Government Association finance spokesperson said: "Local authorities in Wales are working hard to get money out of the door to small businesses.
"No one understands their importance to the local economy more than elected members or the dedicated officers who are pulling out all the stops to administer these support packages at a time when our businesses are most in need. I would urge any firms who wish to apply for this support to do so online at the earliest opportunity.”