Business Loans Scotland (formerly operating as West of Scotland Loan Fund in Renfrewshire) offers secured loan funding up to a maximum of £100k to small and medium sized enterprises (SMEs). The purpose of the loan is to provide ’gap’ funding so applicants must demonstrate that they have explored all available funding options including personal funds and borrowings. The maximum loan available is 50% of the total funding package required and applicants must provide evidence that the remainder of the required funding package has been secured from other commercial sources (e.g. bank loan, director’s loan etc). The loan may be used for working capital, the purchase of plant and equipment or the purchase of business property.
Full details, including eligibility can be found on the BLS website.
