Renfrewshire Council

Graphic illustrating the Renfrewshire Coronavirus Business Support Fund

Renfrewshire businesses can apply now to new support fund

A new package of support for Renfrewshire businesses to tackle the immediate impact of Coronavirus is now open for applications.

What support is available?

The £1.3million Renfrewshire Coronavirus Business Support Fund offers local businesses, including people self-employed, the opportunity to apply for:

  • An interest free Business Restart Loan between £1,000 to £5,000 repayable up to three years to assist with short-term cashflow
  • A 50% match-funded Business Resilience Grant from £1,000 to £10,000 to help businesses meet changed objectives and plan for growth
  • A Business Adaptation Grant providing match-funding from £1,000 to £2500 for businesses adapting their premises to meet physical distancing requirements, open for retrospective applications.

Applicants will also receive a call from one of the Council's Business Gateway advisers to discuss their application and provide tailored advice to meet their specific needs.

This fund has been created following detailed discussion with 500 local companies to determine what they feel can make the biggest difference in the short-term.

It builds on the Council awarding more than 2,600 government grants totalling £27.5million to help local businesses during the outbreak.

The Council is also offering barriers for cafes using outdoor spaces and Business PPE packs to local businesses, having secured funding from the Scottish Government's Towns and Business Improvement Districts (BIDs) Resilience and Recovery Fund, which is run by Scotland's Towns Partnerships.

Businesses may also benefit from up to two days of fully funded consultancy support from experts across a range of topics including: finance, IT, Legal, Property and HR. The team can be contacted on 0141 530 2406 or by email to renfrewshire@bgateway.com.

These support measures add to detailed ongoing work with business, enterprise and education partners locally to prepare Renfrewshire's long-term roadmap to recovery.

Where can I find out more?

Full details of each fund, eligibility information and the online application is available now on our business support page.

Business reaction

"We warmly welcome the additional support package which offers targeted support to those companies that need it most. Based on feedback drawn from a survey of over 500 companies this new funding is a positive step to support our business community."

Bob Grant, Chief Executive of Renfrewshire Chamber of Commerce

"With small businesses in Renfrewshire going through extremely challenging times, we need to do absolutely everything we can to help them stay open and protect and create jobs. Many local FSB members told us that access to finance has been one of the problems, so we welcome the Renfrewshire Coronavirus Business Support Fund and urge our members and the wider small business community to have a look and see how it can help them." 

Hisashi Kuboyama, Federation of Small Businesses' Development Manager for Renfrewshire

We know the economic impact of COVID-19 on businesses is severe. This additional tailored funding from Renfrewshire Council will be welcomed by local businesses as they face continuing economic uncertainty. Working with our partners, we'll continue to do all we can to support companies through this time of unprecedented challenge and play our part in resetting, restarting and recovering the country's economy."

Mark Newlands, Head of Partnerships at Scottish Enterprise

Published on Monday 17 August 2020