Welsh Government's £100m business grants fund has closed just over 24 hours after opening - after a massive response from Covid hit businesses.
The business grant part of latest tranche of the Economic Resilience Fund (ERF) launched on Wednesday afternoon.
It was due to be open until November 25 or until funds are fully subscribed.
Late yesterday afternoon the fund closed after receiving 5,500 applications from firms - showing the sheer scale of demand for Covid support.
Businesses also reported glitches in the system with applications timing out and some firms said they were still collating vital information when they then found the fund had already been closed.
Businesses can still benefit from the £200m available from the third phase although this is limited to companies with rateable values under £51,000. Firms will need to register and update their details via Business Wales or their Local Authority to receive financial support.
Economy Minister Ken Skates said: “The importance of the Economic Resilience Fund to Welsh businesses is evident in the sheer number of applications that have been received.
"We know that businesses have been preparing for this for some time, ever since the eligibility checker opened earlier this month.
“We know this is an incredibly difficult and challenging time for companies. We will work hard to get this much needed funding out of the door and into the bank accounts of businesses that need it as quickly as we can."
Welsh Government expects to start getting support out to businesses from the middle of November.
Eligible firms that do not qualify for business rates linked grants are able to apply for awards of up to £2,000 from a £25m discretionary fund via their local authority.
