Business Loans

Home > Services > Business > Business Finance > Business Loans

This fund is designed to provide loans to ambitious companies in Renfrewshire. The programme aims to encourage the creation and growth of small businesses which can contribute new jobs to the local economy.

• loans of up to £50,000 are available
• the interest rate is normally 2% over the bank base rate, fixed for the period of the loan
• the maximum repayment period is seven years
• we may be able to suspend capital repayments at our discretion
• loans of under £20,000 will not need legal security.

What the loans can be used for
You may use the loan to buy plant and equipment and to provide working capital. The financial support offered through this programme should not be the only funds invested in the project and we would expect financial commitment from the owners, partners or directors of the company and from other lending agencies. You cannot use the council's contribution to buy private cars.

Who should apply
This programme is aimed mainly at small to medium-sized enterprises which employ fewer than 250 staff and are involved in the manufacturing and services-to-manufacturing sectors. Businesses may be sole traders, partnerships, limited companies or co-operatives and have a permanent base in the Renfrewshire Council area. Retail businesses are not eligible for support under this programme.

How to apply
Send us up-to-date management and audited accounts together with a comprehensive business plan and a full two years financial projections.

If you want to apply you can use the pdf form below or, if you want more information first, please use the online form:

Business Support application form (pdf - 180Kb)

You need Adobe Acrobat Reader to view this document. Download Acrobat Reader here.

Business enquiry online form

Please fill in the online form as fully as possible and complete the mandatory fields which are marked. We will respond within 3 working days.

Alternatively if you would like us to mail you an application form you can:

• email:econdev@renfrewshire.gov.uk
• phone one of our Business Advisors on: 0141 840 4040
• fax: 0141 842 5040