The IW Lottery has given the Ryde Arena Trust a £25,000 interest free loan, helping to secure 24 jobs. It’s the maximum loan that the Chamber Of Commerce’s IW Lottery can provide and will be repaid over the next three years.
“This loan will make a huge difference,” says Lorna Cotton, Arena Manager. “The first few months are critical for the rink and the trust so this is absolutely fantastic. We’re open for business and we need the community to get behind us. This loan from the IW Lottery will really help us to move forward”.
Kevin Smith, IW Chamber of Commerce’s Chief Executive, says the loan will help support a community asset for Ryde and the whole of the Island.
“These are exceptional circumstances where the rink was in danger, with the potential loss of 24 jobs. We were in a position to provide an element of support. As a Chamber of Commerce that supports Island businesses, and with our IW Lottery that supports the retention of jobs, it was massively important for us to to help. Our interest free loans are a unique facility in this country and I’m really pleased that we can support this fabulous organisation”.
The IW Lottery has been supporting the Island economy since 2001 and has created and supported hundreds of jobs in the local economy, providing more than £700,000 of interest free loans to Island businesses.
