The Business Restart Loan offers interest-free loans to help small and start-up businesses in Renfrewshire with their short-term cashflow. Loans of between £1,000 and £5,000 are available, with a repayment period of up to 3 years.

The loans aim to encourage the creation and growth of small businesses based in Renfrewshire.

Applicants must demonstrate that the loan is financially needed and will only be used to provide an economic benefit to the business. For example, the loan can be used for:

• start-up costs, including the purchase of existing businesses
• provision of working capital
• the purchase of assets
• the purchase of commercial property, or property extensions or alterations

The Restart Loan cannot be used to pay an existing debt.

The loans are provided in partnership with Right Way Credit Union.

You are eligible if your business:

• is based in Renfrewshire
• is small to medium-sized, with fewer than 250 employees worldwide
• is a full-time business
• has a business bank account
• is not in any debt to the council
• has the ability to grow and create employment
• is not a community group, not-for-profit organisation, voluntary or charitable organisation

It is free to apply.

The interest rate is fixed at 0%.

There is no administration fee.

Loans will be repayable by monthly Direct Debit instalments for a period of up to 3 years.

Small to medium-sized businesses in Renfrewshire.

The Restart Loan can be applied for all year round.

The loan can be repaid over a period of up to 3 years.

Once your application is received, a member of the Council's Business Development team will be in touch to discuss your application. A decision will be made shortly after this discussion.

Applicants must submit:

• scans or photographs of their business plan
• scans or photographs of their 2-year projections
• scans or photographs of their proof of identity
• scans or photographs of their proof of address
• scans or photographs of their credit check document

The Restart Loan cannot be used to pay an existing debt.

Visit the Renfrewshire Council website for full details and to apply.