The Community Loan Fund offers affordable, fixed rate loans to community and third sector organisations in the Highland Council region.

Loans of between £5,000 and £200,000 are available, with a repayment period of between 1 and 10 years.

You can use the funds to help cover start up-costs or grow an existing business. They can also be used to cover day-to-day business costs, or as a short term loan while you wait for longer term funding.

The loan can also be used to purchase or hire:

• a business
• premises or land
• equipment      
• a plant
• stock

It can also be used to cover the costs of:

• site works, including building and installation
• the day-to-day running of the business
• product development
• website, marketing and PR costs
• professional fees
• emergency funding

Other business costs may also be eligible.

Along with the completed application form, you'll need to submit:

• a complete business plan
• a financial forecast including your cashflow, profits and losses, and a balance sheet for at least the past 3 years
• certified accounts for the last 2 years and your most recent management or trading accounts (if you're an existing business)
• confirmation of your own investment in the project costs
• confirmation of other funders' contribution to the project costs
• a certificate of incorporation and a copy of the articles and memorandum of association, if your organisation is a limited company, CIC or SCIO      
• a copy of the constitution and memorandum, along with articles of association, if you're a constituted organisation
• proof of any costs involved, such as estimates, quotations or invoices

Additional information may be requested after your loan application is assessed.

The Community Loan Fund is delivered by Highland Opportunity (Investments) Limited (HOIL) on behalf of the Highland Council. The Community Loan Fund aims to encourage and support Highland-based community and third sector organisations to start-up, grow and contribute to a thriving and sustainable Highland and Scottish economy.

Yes, if your organisation is a new or existing community or social enterprise, or a third sector organisation based in the Highland Council region.

You should be (one of the following):

• a community interest company
• a Scottish charitable incorporated organisation (SCIO)
• a community company limited by guarantee

You'll need to pay an arrangement fee of up to 3% of the loan amount.

The loans have a fixed interest rate based on the Bank of England base rate at the time you apply.

You may be asked for securities for the loan. Each case will be assessed on an individual basis.

You may be eligible for a capital repayment holiday of 3 months on a secured loan. This could be extended up to 6 months, by request, in exceptional circumstances.

Community or social enterprises and third sector organisations located in the Highland Council region.

You can apply for these loans at any time. 

The loan can be repaid over a period of between 1 and 10 years.

Once your application is received, a member of Highland Opportunity (Investments) Limited will be in touch within 3 days to discuss your application. You'll receive a decision within 2 to 10 weeks.

You may be eligible for a capital repayment holiday of 3 months on a secured loan. This could be extended up to 6 months, by request, in exceptional circumstances.

You may be asked for securities for the loan. Each case will be assessed on an individual basis. You may need to provide a personal guarantee, bond and floating charge or a standard security on a property.

Visit the Highland Opportunity (Investments) Limited website for full details and to apply.