Loan finance designed to support the development of new or recently established businesses based in Edinburgh.
The maximum loan is Â£2,500 per business.
The Edinburgh Small Business Loan Fund is provided by the City of Edinburgh Council to assist local businesses requiring funding for development projects. Funding is aimed at start-up and recently established businesses seeking finance for projects that will aid the development of the company.
Retail, wholesale and personal services are excluded from this scheme.
Businesses should fulfil the following:
- Be based within Edinburgh and locally owned and managed.
- Be a new start or a recently established business undergoing expansion.
- Be viable.
- Have exhausted all other forms of available finance, including bank support and be able to demonstrate this.
- Have committed reasonable personal resources to the project funding.
- Be able to demonstrate how the project will aid the development of the business.
Assistance is primarily targeted at businesses within the first year of operation employing up to ten people.
Most sectors are eligible for support, although retail and personal services are restricted.
Match funding is not a requirement. It is, however, stipulated that applicants must show they have exhausted all other sources of funding and that bank support is already provided up to the maximum limit available.
Support is available for a wide variety of projects/proposals providing they are within the context of a viable business plan and applicants can demonstrate how the project will assist the development of the business.
Applications may be made at any time.
Applicants should, in the first instance, telephone the City of Edinburgh Council for either enquiries or to arrange a meeting to discuss their project.
Thereafter, a loan application should be submitted to the Council, accompanied by a viable business plan and a 12 month cash flow forecast. The Council can assist in the preparation of this paperwork. After a business plan has been drawn up applicants are required to present their business plan to a panel who will decide upon the level of support offered.