The Scottish Loan Scheme can provide loan funding of £250,000 to £2 million (and up to £5 million in exceptional circumstances) to growth focused Scottish companies that have a viable business plan and a clear ability to repay the debt.
Loans can be used for a variety of purposes, including:
- Working capital
- Capital expenditure
- Growth funding
- International expansion
- Marketing investment
Am I eligible?
To be eligible for investment from the Scottish Loan Scheme:
- Your business must be based in Scotland or ready to locate to Scotland (and located in Scotland before any loan funds are made available)
- You must have a viable business plan which demonstrates you can pay back the loan
- You must demonstrate that you have tried to get funding from existing funders or there is justifiable reason why you have not
- Your company is at least two years' old with minimum £250k turnover and be profitable (or projecting profitability within the next 12 months)
- The loan funding needs to secure or maintain economic impact in Scotland commensurate with the level of funding being sought
- Your business must support fair work practices, including paying support the Living Wage, with no inappropriate use of zero hours contracts or exploitative working patterns
- Restricted sectors include banking and insurance and sub-prime lending, gambling, adult entertainment, activities with adverse impact on human rights, tobacco and locally traded services
Full details on Scottish Enterprise website here.