Renfrewshire Coronavirus Business Support Fund

Support provided by Renfrewshire Council

What does this involve?

The Renfrewshire Coronavirus Business Support Fund is a £1.3 million Renfrewshire Council package of interest-free loans and grants providing immediate help to businesses affected by the coronavirus (COVID-19) pandemic. It has been developed following detailed discussion with 500 local businesses and is designed to make the biggest difference in the short term to businesses and people self-employed, with all applicants receiving tailored guidance from in-house Business Gateway advisers.

The fund comprises:

  • Business Restart Loan - The Business Restart Loan offers small and start-up businesses and self-employed people with interest-free loans between £1,000 and £5,000, repayable up to three years, to assist with short-term cashflow. Eligible businesses will have been adversely affected by coronavirus and not be in receipt of any other coronavirus loan fund. The loans are provided through partnership with Right Way Credit Union.
  • Business Resilience Grant - The Business Resilience Grant is part-funded by the European Regional Development Fund and provides a 50% match-funded grant from £1,000 up to £10,000 to support small and medium-sized businesses, including people self-employed, in meeting changed objectives and plans for growth. This includes the purchase of new equipment, property expansion or improvements or the costs to exhibit or develop new products and processes. To qualify for support, the business must operate from a commercial premise in Renfrewshire.
  • Business Adaptation Grant - The Business Adaptation Grant provides a match-funded grant from £1,000 to £2,500 to help small and medium-sized businesses, including people self-employed, to adapt their premises to meet physical distancing requirements. This includes the purchase of screens, PPE and signage. The grant is open to retrospective applications for businesses who have already purchased the necessary equipment. To qualify for support, the business must operate from a commercial premise in Renfrewshire. For expenditure between £1,000 and £2,000, the business pays the initial £1,000 and the grant will pay the difference; for expenditure between £2000 and £5000, the grant will pay 50% of costs.

Am I eligible?

Yes, if you are a small business in Renfrewshire adversely affected by coronavirus. If applying for the Restart Loan, your business should not have received any other coronavirus loan funding support and for the the Business Resilience Grant and Business Adaptation Grant you are required to have a commercial premise in Renfrewshire. Full eligibility information is contained in the online application.

What does this cost?

The Business Restart Loan is repayable up to three years. The Business Resilience Grant and Adaptation Grant are match-funded grants. Completing the application process is free.

Who is this for?

Small businesses and social enterprises in Renfrewshire, including people self-employed, whose businesses have been impacted by coronavirus.

How long does this take?

It takes around 15 minutes to complete the online application process. Once your application is received, initial compliance checks will be carried out and a member of the Council's Business Gateway team will be in touch to discuss your application.

Next steps

Visit the Business Fund webpage for full details of this fund and all available support in Renfrewshire.

Support provided by Renfrewshire Council

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