Business Loans Scotland

Does your business need funding to grow? Are you struggling to secure finance from the traditional lenders? Business Loans Scotland may be able to help.

Business Loans Scotland (BLS) has been appointed as one of the Fund Managers to invest Scottish Government funds in new and growing Scottish SMEs. Led by a consortium of Scotland's local authorities, BLS can offer loans from £25,000 up to £100,000 to new and established businesses throughout East Dunbartonshire and beyond.

By giving businesses access to an invaluable new source of funding, these loans may be used flexibly for several purposes, including (but not limited to) working capital, the purchase of plant or equipment, investing in business property and expanding into new markets.

Fully funded by the Scottish Growth Scheme and the European Regional Development Fund (ERDF), BLS aims to give businesses access to funding that will support their growth and expansion plans. Whilst securing finance can be a major hurdle, particularly for small and medium sized businesses, this fund gives businesses the opportunity to secure the finance required to realise their ambitions.

Applications are open to limited companies, partnerships, including Limited Liability Partnerships (LLPs), and sole traders. Full details of the eligibility criteria can be found on the Business Loans Scotland website [opens in a new window].

Please note that loans up to £50,000 will typically be unsecured and that the public sector contribution to the funding package will typically not exceed 50%, meaning your business will require to provide at least 50% of the funding package from either its own resources or from other (private sector) sources, such as bank finance or other commercial lenders.

Loans are typically offered at an interest rate of 6% and are repayable over a period of up to five years. Security will be taken where appropriate and capital holidays of up to three months can be considered. Should your funding requirement be for more than 50% of the total funding package, the application can still be considered but will be subject to a higher degree of due diligence and additional security may be required.

Upon registering an enquiry, businesses will be allocated a Loan Officer who will guide them through the process, offering support and assistance where relevant. Once the completed application is submitted, a decision and issue of any loan is expected within four weeks (20 working days).

To find out more about the funding available from Business Loans Scotland or to submit an initial enquiry, please visit the Business Loans Scotland website [opens in a new window].