Edinburgh Business Development Fund

This loan fund aims to help people who live in regeneration areas to start up or develop their business.

Assistance

Unsecured interest free loans of up to £2,500 may be available for any one business. A 10% administration fee is payable on completion of loan paperwork, 5% of administration fee will be paid back to the client once the loan is fully paid off.
The repayments shall be made in equal monthly instalments, normally over a two year term.

Applicant(s) must be resident in SIP (or equivalent) area
There must be confirmation that no bank funding is available
Clients must be signed up with business gateway adviser and a supporting statement from that adviser provided which includes a recommendation for support or otherwise
Match funding from an appropriate organisation must be available where possible (plus underwriting where possible)
There is a clear indication of and commitment to aftercare support
Maximum loan ceiling of £2500
The specific use for which the loan is sought must be identified (with quotes from suppliers)
The business must be viable - a business plan and a 12-month cashflow forecast, projected profit and loss account and balance sheet, prepared by the applicant with the assistance of Business Gateway, are required for each loan application

Applications must be submitted through a Business Adviser at Business Gateway, Edinburgh.

Applicants will be required to attend a funding panel comprising of the funding authorities to consider all applications and their decision is final.

For further information please contact 0131 221 3184.