There are a wide range of loans available to help with start-up costs, growth and development. Here is information on current loan providers.
Michelin Development Fund
The Scheme – The fund is available to SMEs, Manufacturing or service sector (B2B), existing or start-up businesses, companies located or relocating to Angus/Dundee areas. The fund could gear up other forms of funding. In house expertise is also available.
Amount – Low-interest loans ranging from £5,000 to £50,000 over 3-5 years
The Scheme – In early 2014, the Government-backed British Business Bank Investment Programme decided to invest a further £40 million alongside other investors, to support economic growth by providing more efficient finance to small businesses.
Amount – Borrow £5,000 – £1m for almost any purpose
The Enterprise Finance Guarantee scheme
The Scheme – Now being run by British Business Bank, the Enterprise Finance Guarantee (EFG) is a guarantee scheme to facilitate lending to viable businesses that have been turned down for a loan or other form of debt finance due to inadequate security or a proven track record. There are over 40 participating lenders ranging from the main high street banks to smaller specialist institutions. Further details can be found on the website.
Amount – Loans range in size from £1,000 to £1.2m
Princes Trust Youth Business Scotland
The Scheme – Support for starting a business and working with 18 to 30 year olds, the Princes Trust can help to turn big ideas into a business reality through our Enterprise programme. Small start-up business grants in special circumstances.
Amount – Low-interest loans of up to £7,500
CEIS Business Finance
The scheme – CEIS offer a range of business finance solutions to small businesses and social enterprises that can’t access funding from banks and other traditional sources through DSL Business Finance, a subsidiary of CEIS, which was established in 1993. Find out more about Start-up loans of up to £25,000 or loans of up to £50,000 for existing businesses.
Amount – Loans up to £50,000.
Business Loans Scotland
The Scheme –Business Loans Scotland(BLS) is the Fund Manager for a £7million loan fund, which seeks to invest in new and growing Scottish SME’s. BLS is also the trading name for the Scottish Growth Scheme Business Loans Scotland Debt Finance LP (SL033447) and is fully financed by the Scottish Growth Scheme and the European Regional Development Fund (ERDF) through the European Structural Funds 2014 – 2020 Programme. Business Loans Scotland is a consortium of Scotland’s Local Authorities, set up to manage loan funds providing funding to new and growing small & medium sized businesses across Scotland. BLS builds on the success of previous loan funds; the West of Scotland Loan Fund (WSLF), the East of Scotland Investment Fund (ESIF) and the South of Scotland Loan Scheme.
Amount – Loans £25,000 up to £100,000