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 that provide 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 self-employed people, 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 3 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 in partnership with Right Way Credit Union.
  • Business Resilience Grant - The Business Resilience Grant is part-funded by the European Regional Development Fund. It provides a 50% match-funded grant ranging from £1,000 up to £10,000 to support small and medium-sized businesses, including people self-employed, to meet changed objectives and plans for growth. This includes the purchase of new equipment, property expansion or improvements and the costs to exhibit or develop new products and processes. To qualify for support, the business must operate from a commercial premise in Renfrewshire.

Am I eligible?

Yes, if you are a small business or self-employed person in Renfrewshire adversely affected by coronavirus.

To be eligible for the Restart Loan, your business should not have received any other coronavirus loan funding support.

To be eligible for the Business Resilience Grant, you are required to have a commercial premise in Renfrewshire.

Full eligibility criteria are included in the online application form.

What does this cost?

The Business Restart Loan is repayable over up to 3 years.

The Business Resilience Grant is a match-funded grant.

It is free to apply.

Who is this for?

Small businesses and social enterprises in Renfrewshire, including self-employed people, which 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 Renfrewshire Council website for full details and to apply.

Support provided by Renfrewshire Council

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