Community organisations in the Highland Council area can apply for loan funding through the Community Loan Fund.
The fund is delivered by Highland Opportunity (Investments) Limited (HOIL) on behalf of The Highland Council. It supports:
- Community Interest Companies (CICs)
- Scottish Charitable Incorporated Organisations (SCIOs)
- Companies Limited by Guarantee
Loans are assessed based on business viability and the intention to generate profit.
Loan terms
- interest rate: between 4% and 10%, fixed for the loan period
- loan period: 1 to 10 years (shorter terms preferred for unsecured loans)
- maximum loan: £200,000
- capital repayment holiday: 3 months for secured loans (up to 6 months in exceptional cases)
- security: standard security on physical assets and a Bond and Floating Charge (not required for short-term cashflow loans, subject to circumstances)
- arrangement fee: up to 3% of the loan value
How to apply
-
Register your interest
Email: HOIL@highland.gov.uk
You will receive a loan application form. -
Who can apply
The form must be completed by a director, key person or authorised agent acting on behalf of the organisation. -
What you need to include
- completed application form
- business plan with financial projections
- 3-year cashflow forecast and balance sheet
- if already trading: up to 3 years of certified accounts
-
Submit your application
Email your completed application and documents to the HOIL Investment Manager:
HOIL@highland.gov.uk
All applications are treated as confidential. A full privacy notice is included in the application form.