18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
Was that more legal problems, or was it—? Two-and-a-half years is a rather long time to be involved. What were the barriers? Was it from the lender or was it more of the—?
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
Okay, thank you very much. I'll bring Peter Fox in, please. There we are, Peter.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
So, the payback term on that loan from the Government is quite short, then, is it, or—?
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
Okay. And then, I'm interested, with fair funding—. It's a little bit different, as you said, isn't it, Kate, with—. You had the guarantee as well as—. There's a bit of matching stuff together, then, for you. So, what was that process like, and what sort of…
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
And that was directly with the department.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
Similar sort of—?
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
So, it wasn't badged up as anything.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
No, you just—. The bank had money, and then you had to go through their normal application process.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
That you'd go through with any high-street bank, or any other—
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
Thank you. Great, okay. So, when you were applying for funding in different ways, either through the development bank or directly with Government, what sort of guidance had you had regarding the sort of application, or those conversations to understand what…
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
And Charlotte is an official within the Welsh Government.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
Thank you. And Kate, what's been your experience?
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
Richard, do you have any thoughts?
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
You could have asked them; they were just here. [Laughter.]
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
Fantastic. Thank you so much for coming. Obviously, there will be a transcript of this for you at the end, just to check that we've captured this correctly. Thank you, all, for the written evidence that we've received from you; it's been helpful in forming…
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
I'd just like to welcome our witnesses here—we've got one on screen and two in the room. Would you be kind enough to give your names and who you're representing here today? I'm going to start with Richard.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 2
Croeso'n ôl i'r ail sesiwn o'r bore yma efo'n tystion.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 1
Thank you very much. We've gone over time, but I appreciate you coming in, and I appreciate your candour and your answers this morning. There will be a transcript available for you to check for accuracy, and if some of those figures that you suggested need…
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 1
Mike, I'll bring you in now.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 1
And what about criminal convictions?
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 1
I think we've got time for one more question, Mike, and then we'll have to wrap this—. Sorry, Rhianon's got her hand up, so I'll bring Rhianon in very quickly.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 1
But I assume your targets would be for those funds, on average, to overachieve so that you cover your overhead and the costs and things. But it's managing the risks, so it's finding that blended average across, then.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 1
I'll bring Mike in for a couple of final questions. Thank you, Mike.
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 1
I'm conscious of the time and if you're okay to stay a few minutes longer, then that would be great, and then we'll get through some questions. Sorry, it's usually me talking to much, so I apologise to my colleagues, but there we are. I'll come back to Peter…
18 Gorffennaf 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 1
But would they be getting bonuses and that sort of thing, or is it more of a salary-based type of thing? How does—