A micro credit initiative seeking to enable communities' hardest to reach groups in Glasgow, helping individuals improve their standard of living by starting or growing a business.
Loans of up to £1,000 are available, over a period of 52 weeks.
Loans are offered at a cost of between 17.95% and 23.95% (19.5% to 26.8% APR) dependent on loan product and on a reducing balance basis.
No fees are applicable, and collateral and a credit history are not required to secure a loan.
Grameen Scotland Foundation is a registered charity, also known and trading as Grameen in the UK. Grameen focuses on poverty alleviation and education, through the introduction and support of micro credit lending. This financial assistance is designed to enable the hardest to reach groups to start businesses, as a means of improving their standard of living.
Grameen's goal is to improve the economic situation of the most financially disadvantaged in the UK, initially in the west of Scotland, on a sustainable basis.
There are no specified restrictions on eligibility.
Individuals and developing small businesses in the Glasgow are eligible to apply for loan finance. There are plans to expand support to North Ayrshire, Dundee, West Dunbartonshire and Inverclyde.
Grameen particularly seeks to support those in harder to reach communities, who may not meet the lending criteria of the mainstream High Street lenders.
Match funding is not a stipulated requirement.
Costs associated with business start-up and small business development.