Business Loan Scotland can fill your funding gap

Business loan funding of up to £100,000 is available for Dumfries and Galloway businesses from Business Loans Scotland.

Business Loans Scotland is a consortium of Scotland’s 32 local authorities, incorporated as a company limited by guarantee to provide loan finance up to £100,000 to new and growing, small and medium-sized businesses (SMEs) across Scotland.

Dumfries and Galloway Council’s Chief Executive Gavin Stevenson welcomes the opportunity that Business Loans Scotland brings for local businesses with growth potential: 

“Growing the economy is one of our Council’s four key priorities. Together with the skills and expertise of our business advisers working with businesses across the region, access to this loan finance will help plug funding gaps that are holding companies back from realising their growth ambitions.

Part funded by the European Regional Development Fund (ERDF), the loans are typically fixed at 6% interest rate with terms of up to five years and can be used for working capital, plant and equipment or purchase of business property. Mr Stevenson continued:

“We’re delighted that Dumfries and Galloway Council is a member of the Business Loans Scotland consortium. This funding lifeline will help strengthen the local and national economy through job creation and added value. It’s particularly suitable for businesses with good commercial proposals but which are struggling to raise sufficient finance through the normal commercial channels”

Further information including eligibility and applications should be made through the Business Loans Scotland website at www.bls.scot or by phone to Business Gateway Dumfries and Galloway on 01387 808738.

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