Support for business

Grants and loans

Grant Schemes delivered by Highland Council

The Scottish Government have asked the Council to deliver a number of business grant schemes on their behalf. The Scottish Government provide the funds for these grant schemes and also define the criteria to be used and who is to benefit from the grant.

There are currently no open grant schemes.

Loans

If your business needs short term cash flow support a loan scheme is to be set up to support primarily small and medium-sized businesses to access bank lending and overdrafts. The Coronavirus Business Interruption Loan Scheme will provide lenders with a guarantee of 80% of a loan and businesses will be able to secure 12 months interest free repayments.

You should talk to your bank or finance provider as soon as possible and discuss your business plan with them. The scheme will be available from the week commencing 23 March 2020. Further information is available on the British Business Bank website.

Bounce Back Loan Scheme (BBLS)

The BBLS is available as of 4 May 2020, enabling smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there won't be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year. You can apply for this loan on the Government's BBLS web page.

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