Edinburgh Business Loan Fund

The fund is designed to provide loans to assist a new or expanding small business based in the City of Edinburgh.

Assistance

• Unsecured interest free loans of up to £2,500 for any one business may be made, a 5% administration fee is payable on completion of loan paperwork.
• The repayments shall be made in equal monthly instalments, normally over a two year term which may, upon exception, be extended to a term of three years.

Eligibility criteria

1. The business must be either a proposed new start or a recently established business undergoing expansion.
2. Applicants are required to demonstrate that:
   1. The business is viable - a business plan with a 12 month cashflow forecast, projected profit and loss account and balance sheet, prepared by the applicant with the assistance of a Business Gateway adviser, are required for each loan application.
   2. All other funding sources have been exhausted.
   3. Bank support is already provided up to the limit available.
   4. There is commitment of all reasonable personal resources.
3. The scheme is aimed primarily at businesses employing up to 10 people in their first year of operation.
4. Most types of business are eligible but there are some exclusions.

Applications must be submitted through a Business Gateway adviser.

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 and to speak to a Business Gateway adviser, please contact 0131 221 3184.