The Scottish Microfinance Fund is a new £6 million microfinance fund whose aim is to make small loans more accessible to businesses throughout Scotland.
Closing date: 31 Dec 2017
The Scottish Microfinance Fund (SMF) is a Scottish Government initiative supported by the European Regional Development Fund (ERDF), DSL Business Finance (DSL) and The Start-Up Loans Company (SULCo) and aims to provide improved access to finance with very competitive terms. The fund offers an interest rate of six per cent and no arrangement or early repayment fees. The funding is part of a larger £40 million boost from the Scottish Government’s SME Holding Fund.
All applicants receive face-to-face pre-loan and aftercare support from a dedicated DSL loan officer who all work closely with the Business Gateway and other support agencies across Scotland. To support delivery of the new fund DSL has recruited loan officers in Dundee and Highlands/Moray and also added to their support staff to ensure business owners receive the best possible support with the application process and business plans, whether this is for start-up or growth.
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