Business Loans Scotland

Support provided by Scottish Government

What does this involve?

The Scottish Growth Scheme is a package of financial support of up to £500 million for Small and Medium Enterprises (SMEs) in Scotland. The Scottish Growth Scheme is part financed by the European Regional Development Fund, backed by the Scottish Government, and aims to help businesses grow.

This funding includes Business Loans Scotland which is a consortium of Scotland’s Local Authorities providing loans from £25,000 to £100,000 (and in exceptional circumstances up to £250,000) on behalf of Scottish Government to eligible businesses.

Loans can be used for a variety of purposes including:

  • working capital
  • capital expenditure
  • growth funding

Am I eligible?

To be eligible for a business loan of up to £250,000 from Business Loans Scotland, businesses must:

  • be a small to medium sized enterprise 
  • have a borrowing proposal which the lender would consider viable, were it not for the current pandemic
  • have a viable business plan which demonstrates you can pay back the loan, and demonstrates how the requested funding will help grow or secure (in the case of liquidity loans) your business
  • be based in Scotland or ready to locate to Scotland (and located in Scotland before any loan financing is made available)

Business Loans Scotland is not sector-specific and businesses in a variety of sectors have already been supported under the Fund. However, certain sectors may still be restricted.

What does this cost?

There is no cost to apply.

Who is this for?

Start-ups and SMEs based in Scotland.

How long does this take?

This will depend on the nature of your loan request and the review process. Business Loans Scotland will evaluate your application and make the lending decision.

Important information

Advice and support for SME’s seeking to access finance is available from Business Gateway. Financial Readiness support is also available from Scottish Enterprise, including in the Highlands and Islands area.

Next steps

Visit the Business Loans Scotland website for further information and to apply for a business loan.

Support provided by Scottish Government

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