A LOAN fund established by Gwynedd Council is enabling property owners in Caernarfon town centre to renovate their properties.
The £700,000 venture was established following a successful council bid for Welsh Government funding.
It has recently assisted two High Street businesses.
Byncws Tŷ Glyndŵr has received support to open a town bunkhouse, café and bar, while
Tŷ Castell Cyf has secured funding to open a restaurant and boutique hotel.
The aim of the fund is to encourage the renovation of premises and the opening of new enterprises.
Rhys Davies, proprietor of Byncws Tŷ Glyndŵr said: “In a period where public funding is much reduced, the availability of funding initiatives like this is of great importance to small local businesses.”
Gareth Jones, owner of Tŷ Castell, said: “It’s very important for both locals and visitors alike that Caernarfon town centre remains a vibrant and attractive place.
“I urge property owners within the town centre to make use of the funding that’s on offer.”
Cllr Ioan Thomas, Gwynedd Council cabinet member for economic development, said: “Over the years the council has been working closely with its partners in order to regenerate the area, with the available loans providing an excellent opportunity for businesses and residents to renovate their buildings in the town centre.”
The Welsh Government has also approved an interest free loan scheme for owners of premises in need of improvement located within Bangor city centre.
The Caernarfon and Bangor Centre Loan Fund is administrated by Gwynedd Council and financed by the Welsh Government.