West of Scotland Loan Fund

The West of Scotland Loan Fund was set up in 2006 to support SME’s in the following regions:

  • Argyll & Bute
  • East Ayrshire
  • East Dumbartonshire
  • East Renfrewshire
  • Glasgow
  • Inverclyde
  • North Ayrshire
  • North Lanarkshire
  • Renfrewshire
  • South Ayrshire
  • South Lanarkshire
  • West Dumbartonshire

What industries qualify for a West of Scotland Loan?

Eligible Ineligible

Services to Manufacturing



Transport & Distribution

Software Development

Recruitment Agencies

 Sale of Motor Vehicles

Real Estate/Property Development

Professional services

Social and personal services


The qualifying business does not need to be an established business as start-up businesses are also considered.

If you are in any doubt please contact us on 01698 440330 for further guidance.

How much of a loan can we apply for?

Typically the maximum loan is £50,000. The funding MUST be matched funding from an alternative source including bank overdraft, bank loan, director’s loan, invoice finance advance and factoring advance.

For example I am setting up a recruitment firm and want to apply for £50,000 loan from West of Scotland Loan and I have matched funding consisting of bank overdraft £25,000 and personal funds (director’s loan), this example would be acceptable.

There have been recent developments to increase the maximum loan to £100,000 but this would need to be part of an overall package of £400,000. An example may be that a company wants to buy commercial premises for their company to trade from and they can raise £300,000 (75% of funding) in the form of a commercial mortgage this could be matched with a loan from West of Scotland of £100,000 (25% of funding). This is a useful  way of raising the deposit for a commercial property.

What are the terms of the loan?

Loans can be repaid over 2 to 7 years and there are no early redemption penalties. Interest rates are fixed at 5% over the life of the loan and there are no set up fees. An example of a £50,000 loan being repaid over 7 years would result in 84 repayments of £706.70.

Capital holiday periods can also be built in over the first 6 months.

What do I need to submit in order to apply for a West of Scotland Loan?

The typical information includes:

  • A well written and presented business plan with financial projections
  • Latest annual or management accounts
  • Application Form and Personal Statement Form
  • A credit report for all Directors, normally we would retrieve these from Experian
  • Other documents may be required depending on the type of business

What can the loan be used for?

A West of Scotland Loan can be used to provide a company with working capital during periods of growth, to purchase plant & machinery or to purchase commercial premises. The loan could also be used as part of funding package to purchase another company.

I would like to apply what should I do next?

We have had many dealings with the West of Scotland Loan Fund and have a great rapport with the local councils and Business Gateways. We have a great deal of experience of preparing business plans and financial forecasts and would be happy to talk you through the process. We always help our clients through all the stages until the loan is received. Feel free to give us a call on 01698 440330 for further guidance.