A scheme to support the transfer of a viable business from one owner to another in Glasgow.
Loans of up to £100,000 are available to support the transfer process.
Business Advisers can offer support and advice to ensure the transition is planned and considered. They can also help entrepreneurs looking to acquire a business and ensure sustainable economic growth in Glasgow.
Glasgow Business Transfer Loan Fund (GBTLF) is provided by Glasgow City Council.
The aim of the scheme is to support the transfer of a viable business from one owner to another.
Applicants should contact the provider direct to discuss any exclusions that may apply.
The fund is open to Buyers of existing businesses that are currently operating wholly within the Glasgow City Council boundary.
Interested parties should contact the funding provider directly to discuss any match funding restrictions that may apply.
Costs associated with eligible projects.
Applicants should contact the provider direct to discuss any deadlines that may apply.
Applicants should complete the application form which is available to access from the website ensuring all supporting documentation is included.
If an application is unsuccessful then all of the business and personal information provided will be deleted from the system.
A business adviser will be allocated to each application and an independent feasibility study will be conducted by a qualified third party.
All applications will be assessed, and decisions made, by the Glasgow Business Transfer Loan Fund Panel. Normally, applicants will be advised in writing of the outcome within six weeks of successful submission of the application. If successful, a loan offer would then be issued with certain conditions to be met as appropriate. Should the applicant wish to accept the loan offer, written acceptance should be made within 14 days from the date on the offer letter. The total time from receipt of application to receipt of cheque is usually around 13 weeks.
Recipients are required to agree to ongoing business support from a Glasgow City Council nominated Business Adviser.