Interest-free business loans

Interest-free loans are available to businesses in East Lothian through East Lothian Investments Ltd (ELI), an arms-length company of East Lothian Council governed by a board of directors. The ELI loan fund is open to all sectors and businesses at all stages (including startups) that are based in East Lothian.

You can apply for a loan of up to a maximum of £25,000, with a normal repayment term of 60 months. Payments will be collected by direct debit on the first day of the month. An initial repayment holiday may be available if required and agreed to at the application stage. 

Deadline dates for new applications are set every 6 to 8 weeks. To apply, you should complete an application form and personal statement, then you will be contacted by the fund manager to discuss these in more detail. The completed application and any supporting information will then be presented to the board of directors to decide whether to award or decline the loan.

If your application is approved, there is a 5% arrangement fee that you'll need to pay before you receive the funds.

Yes, if you are a business based in East Lothian.

There is no cost to apply to ELI Ltd. You can apply for a loan of up to a maximum of £25,000, with a normal repayment term of 60 months.

There are no early repayment fees.

Loans are interest-free. If your application is approved, there is a 5% arrangement fee which you must pay before you receive the funds.

Businesses in East Lothian.

East Lothian Investments Ltd is authorised and regulated by the Financial Conduct Authority.

Visit the East Lothian Investments website to view full applicant information and make an enquiry.