The Scottish Government still has to fully evaluate the First Home Fund, but Kevin Stuart said it had been a “huge success”. We use cookies to give you the best experience when you browse our website. Sorry we couldn't send your feedback. Please use the box above to tell us what problem you have had on this page before submitting your feedback. To be eligible for investment from the Scottish Loan Scheme: Restricted sectors include banking and insurance and sub-prime lending, gambling, adult entertainment, activities with adverse impact on human rights, tobacco and locally traded services. © Scottish Enterprise 2020.

Loans for working capital, capital expenditure, growth funding, expansion in international markets and marketing investment. South of Scotland Enterprise. We may arrange a meeting with you to discuss your plans further, and how much you may be eligible for. The Scottish Government has made funding available to Scottish Enterprise to provide loans through the Scottish Loan Scheme (SLS). In some circumstances, they might be able to apply for up to £5 million.

Any existing debt will be taken into account when assessing loan affordability. Scottish Loan Scheme Through the Scottish Loan Scheme, Scottish Enterprise offer loans to businesses looking to grow. Would-be homeowners still have a week to apply for the first round of funding under the scheme, which requires buyers to repay the Scottish Government loan when their home is sold. Complete the initial enquiry form and send it to scottishloanscheme@scotent.co.uk. Highlands and Islands Enterprise Please register or log in to comment on this article. Support provided by

The Scottish Government still has to fully evaluate the First Home Fund, but Kevin Stewart said it had been a “huge success”. Accessing finance and attracting investment, Initial enquiry form (MS Word Doc, 135kB). Error. The Scottish Loan Scheme (SLS) can provide loan funding of £250,000 - £2m (and up to £5m in exceptional circumstances) to growth focused Scottish companies that have a viable business plan and a clear ability to repay the debt. Loans can be used for a variety of purposes, including working capital, capital expenditure, growth funding and international expansion. Applications close at 6pm on Friday October 2, and ministers expect the initiative will help more than 8,000 people buy their first home by the end of this year. A National Basic Payment Support Scheme providing vital financial support to Scottish farmers in advance of Brexit has been launched. The Scottish Loan Scheme can provide funding of between £250,000 to £2 million (up to £5 million in exceptional circumstances) to growth focused Scottish companies that have a viable business plan and a clear ability to repay the debt. A PILOT scheme that provides first-time buyers with loans of up to £25,000 to help them get on the property ladder is being continued next year, the housing minister said. ©JPIMedia Publishing Ltd. All rights reserved. 0300 013 3385. If you’re interested in funding from the Scottish Loan Scheme, here are some of the key details you’ll need to know. Any existing debt will be considered when assessing loan affordability. Want to join the conversation? Companies may request to ‘reborrow’ up to 20% of loan capital that has been repaid to Scottish Enterprise under the loan (provided at least 50% of the original capital has been repaid). What is the Scottish Loan Scheme? We’re transforming the online experience for users & this site is currently under development.

Qualifying companies will be required to submit the following: The business plan and financial forecasts need to clearly demonstrate the company is viable and able to repay the debt within sufficient headroom. If you have met the requirements, you will be required to submit the following: The business plan and financial forecasts need to clearly demonstrate the company is viable and able to repay the debt within sufficient headroom. The Private Rent Sector Landlord (non-business) COVID-19 Loan Scheme opened for applications on 5 May. If your loan is approved, on an ongoing basis, you'll need to provide us with management accounts (P&L, balance sheet and cashflow), annual budgets and annual accounts. Support provided by The Scottish Loan Scheme can provide funding of between £250,000 to £2 million (up to £5 million in exceptional circumstances) to growth focused Scottish companies that have a viable business plan and a clear ability to repay the debt.

Money available for the scheme has already been increased from £150 million to £200 million, as a result of changes in the mortgage market because of Covid-19. External diligence and legal costs borne by company.

Try to be as specific as possible. You can change your cookie settings in your browser at any time. Loan applications will be subject to credit checks of directors and shareholders with over 20% shareholding. “While the scheme is almost fully subscribed for 2020-21, I am pleased to say that I will reopen the pilot for the next financial year, and look forward to announcing further details of this in due course. The Coronavirus (Scotland) Act 2020 already protects tenants from any eviction action for six months. Don't include personal or financial information like your national insurance number or credit card details. The Scottish Loan Scheme can provide loan funding of £250,000 to £2 million (and up to £5 million in exceptional circumstances) to growth focused Scottish companies that have a viable business plan and a clear ability to repay the debt. Under the new scheme, loans will be offered to eligible farmers for up to 95% of their Basic Payment Scheme 2019 payments – … South of Scotland Enterprise. Improve productivity and employee engagement, Your business must be based in Scotland or ready to locate to Scotland (and located in Scotland before any loan funds are made available), You must have a viable business plan which demonstrates you can pay back the loan, You must demonstrate that you have tried to get funding from existing funders or there is justifiable reason why you have not, Your company should have 2 years' trading history with a minimum £250k turnover and be profitable (or projecting profitability within the next 12 months), The loan funding needs to secure or maintain economic impact in Scotland commensurate with the level of funding being sought, Your business must support fair work practices, including paying support the Living Wage, with no inappropriate use of zero hours contracts or exploitative working patterns, Restricted sectors include banking and insurance and sub-prime lending, gambling, adult entertainment, activities with adverse impact on human rights, tobacco and locally traded services, Three years of forecasts (to include P&L, balance sheet and cashflow forecasts). Loan applications will be subject to credit checks of directors and shareholders with over 20% shareholding. Companies may request two months deferral of payments within a rolling 24-month period during the duration of the loan.

Need help? The fund can be used when buying a new-build home or an older property, and Mr Stewart said: “The pilot of our First Home Fund has been a huge success, helping thousands of people own their first home. Companies based in Scotland who have been operating for at least two years with a minimum of £250,000 turnover. The First Home Fund is a £200 million shared equity pilot scheme to provide first-time buyers with up to £25,000 to help them buy a property that meets their needs and is located in the area where they want to live. Call A pilot scheme that provides first-time buyers with loans of up to £25,000 to help them get on the property ladder is being continued next year, the Scottish housing minister announced today. Only one application is permitted and is subject to Scottish Enterprise’s discretion. This website and its associated newspaper are members of Independent Press Standards Organisation (IPSO).

Submit an enquiry further details.

Scottish Enterprise Cameron McKenzie was able to buy a two-bedroom flat in Pilton, Edinburgh, with money received through the scheme. Deferred payments will be repaid as a bullet repayment at the end of the loan term and is subject to Scottish Enterprise’s discretion. This depends on the nature of your loan request. A pilot scheme that provides first-time buyers with loans of up to £25,000 to help them get on the property ladder is being continued next year, the Scottish housing minister announced today. Loans can be used for a variety of purposes, including: Working capital If your loan is approved, on an ongoing basis, you'll need to provide management accounts (P&L, balance sheet and cashflow), annual budgets and annual accounts.

Submit an enquiry, external link which will open in a new window.