Dumfries and Galloway Council Launch Business Loans and Business Week 2017

Invited guests, attended a breakfast at Dumfries and Galloway College’s Henry Duncan Building on Tuesday 27th June to launch Business Loans Scotland and introduce some of the attractions promised for this year’s Dumfries and Galloway Business Week (2 – 7 October 2017)
Business Loans Scotland is a consortium of Scotland’s 32 Local Authorities, incorporated as a Company limited by guarantee to provide loan finance up to £100,000 to new and growing small and medium –sized businesses (SME’s) across Scotland.
Part funded by the European Regional Development Fund (ERDF), the loans are typically fixed at 6% interest rate with terms of up to five years and can be used for working capital, plant and equipment or purchase of business property. With a fund nationally of just over £8m this is an great opportunity for our local businesses to use the fund to help them grow their business.
This year’s business week is proving to be our most exciting yet, with Google Garage and the winner of UK Masterchef professional 2016 just two of the promised attractions.

Dumfries and Galloway Council’s Chief Executive, Gavin Stevenson, commented: “These are two great opportunities for our local businesses and future businesses: Business Week 2016 was our most successful to date, with over 860 participants attending events across the region – and this year’s events are promising to be even more engaging, with bigger names than ever before taking part.
Chair of Dumfries and Galloway’s Economy, Environment and Infrastructure Committee, Cllr Archie Dryburgh went on to say: “Building the local economy is one of our Council’s key priorities, and the opportunity that Business Loans Scotland brings for local businesses with growth potential is fantastic. Together with the skills and expertise of our business advisers working with businesses across the region, access to this loan finance will help plug funding gaps that are holding companies back from realising their growth ambitions.”

Vice-Chair of Dumfries and Galloway’s Economy, Environment and Infrastructure Committee, Cllr Andrew Wood, also commented: “I’m delighted that Dumfries and Galloway Council is a member of the Business Loans Scotland consortium. This funding lifeline will help strengthen the local and national economy through job creation and added value. It’s particularly suitable for businesses with good commercial proposals, but which are struggling to raise sufficient finance through the normal commercial channels”.