Product Type: Business Loan for Existing SME’s including Sole Traders, Partnerships and Social Enterprises

  • Minimum Loan: £5,000
  • Maximum Loan: £50,000
  • Minimum Repayment Term: 3 Months
  • Maximum Repayment Term: 60 Months
  • Interest Rate: Fixed at 0%
  • No Administration Fee
  • No Penalties for Early Settlement

Eligibility Criteria

  • Applicant businesses must be located in Scotland
  • Must be trading a minimum of 6 months
  • The purpose of the loan must be to improve digital capacity and or capability of the business
  • Applicants must be over the age of 18
  • Applicants must be a UK resident with the right to work in the UK
  • Business sector must be eligible
  • Businesses must meet the European* definition of an SME in relation to employees, balance sheet and turnover.
    *European Definition The category of micro, small and medium-sized enterprises (SMEs) is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million euro, and/or an annual balance sheet total not exceeding 43 million euro

Credit History

  • Applications will not be progressed if applicants are subject to formal insolvency such as sequestration/bankruptcy.
  • Applicants who have defaulted on existing debts may still be considered for the Digital Development Loan if they can demonstrate that they have maintained regular repayments for a minimum of 6 months.
  • Applicants who have discharged Bankruptcies and Trust Deeds are eligible to apply after the discharge date.

Loan applications for the following purposes are not eligible:

  • Businesses or projects involved in betting or gambling.
  • Loans for the purchase of property for resale.
  • Loans to substitute the applicant’s own funds.