Grants & funding for businesses
Growing and developing your business may require financial support.
Finance Scotland can help you find finance specific to your business.
Click on the boxes below to find out further information on funding available to you.
Crowdfunding
Individuals, businesses, charities and community groups are now able to bring their projects or businesses to a wider audience via the internet and request financial support.
Bloom Venture Catalyst, the brainchild of two Scottish female entrepreneurs, has been launched and offers access to funds and help to define the project to ensure its optimum chances of gaining support. The projects are listed for between 30 to 60 days depending on the wishes of the project owner.
For more information visit www.bloomvc.com
Business Loans Scotland
Business Loans Scotland is a consortium of Scotland’s 32 local authorities, providing loan finance up to £100,000 to new and growing small and medium sized businesses (SMEs) across Scotland.
For more information and to apply online visit www.bls.scot
Financial Support to Businesses
Your company may be eligible for assistance if you employ up to 50 people in manufacturing, business to business services or tourism. Your development plan must show that the investment will bring an economic benefit to Fife by way of increased employment and/or turnover.
Contact an adviser on 01592 858333 to discuss your situation.
Fife Trade Development Programme
Fife Council provides a range of services and practical assistance to help businesses develop existing and new markets. We can help you exploit the business opportunities that arise from participating in trade exhibitions, learning journeys or trade missions.
Trade development support is available for Fife companies who want to attend exhibitions. For information contact Dot Smith 03451 555555 ext 492175 or email Dorothy.Smith@fife.gov.uk
DSL Business Finance
Using a Government scheme called The Enterprise Finance Guarantee, DSL can lend to firms even if they have no security or have been turned down by the banks. This fund has been in existence for many years, and is often used as part of a funding package for a business as the "makeweight" in a commercial transaction where other lenders are also supporting the proposal, but the risk is shared betwen them and DSL.
Scottish Microfinance Fund
The Scottish Microfinance Fund (SMF) is managed by DSL Business Finance Ltd (DSL), a not-for-profit lender, with the support of UK Government through the Start-up Loans Company (SULCo) and the European Regional Development Fund (ERDF) to provide loans of up to £25,000 to businesses in Scotland.
The SMF is available to both new and established businesses, with a prime objective of supporting enterprise in Scotland.
Regional Selective Assistance
The Scottish Government can provide financial assistance to new and existing businesses in Scotland. Following a review of their grant scheme structure in 2007, they can now offer direct financial support through our Investment and Innovation Grants which could help develop your business. To find out more visit the Regional Selective Assistance homepage.
For more information on how to apply contact Business Gateway Fife on 01592 858333 or email success@bgfife.co.uk
Research & development grants
Small, medium and large enterprises may receive funding for research and development, even if the innovation is new only to your business. The product need not be innovative within a national context.
Find out more about research and development grants on the Scottish Enterprise website
SMART : Scotland
If your innovation represents a significant technological advance within your industry sector, then you may qualify for a Scottish Government SMART:SCOTLAND grant. Funding is available for small to medium sized enterprises (SMEs) which have:
- less than 250 employees
- an annual turnover of less than EUR 50 million; and/or
- an annual balance sheet total of less than EUR 43 million.
For more information visit www.scottish-enterprise.com
Start up loan for new businesses
A Start Up Loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK.
Start Up Loans are available to individuals over the age of 18 who are eligible to start a business in the UK. Individuals can only receive one Start Up Loan, however more than one partner in a business can be eligible to apply for a loan.
More info:-
- Up to £25,000 available
- 6% fixed interest rate
- For businesses who have been trading for less than 24 months
- 1-5 year loan term
- No application fee
- No early repayment fee
For more information and to check eligibility visit https://www.startuploans.co.uk/
