Business grants and loans

Supporting businesses in North Lanarkshire

Youth Investment Programme

North Lanarkshire Council can provide financial support to help local businesses develop and grow. Our current programmes include:

Business Loans Scotland

Does your business need funding to grow? Are you struggling to secure finance from the traditional lenders? Business Loans Scotland may be able to help.

pdf icon Business Loans Scotland [4Mb] has been appointed as one of the Fund Managers to invest Scottish Government funds in new and growing Scottish SMEs. Led by a consortium of Scotland's local authorities, BLS can offer loans from £25,000 up to £100,000 to new and established businesses throughout North Lanarkshire and beyond. By giving access to an invaluable new source of funding, these loans may be used flexibly for several purposes, including working capital, the purchase of plant or equipment, investing in business property and expanding into new markets.

Fully funded by the Scottish Growth Scheme and the European Regional Development Fund (ERDF), Business Loans Scotland aims to give businesses access to funding that will support their growth and expansion plans. Whilst securing finance can be a major hurdle, particularly for small and medium sized businesses, this Fund will give businesses the opportunity to secure the finance required to realise their ambitions.

Applications are open to Limited Companies, Partnerships, including Limited Liability Partnerships (LLP's) and Sole Traders. Full details of the eligibility criteria can be found on the Business Loans Scotland website.

Please note that loans up to £50,000 will typically be unsecured and that the public sector contribution to the funding package will typically not exceed 50%, meaning your business will require to provide at least 50% of the funding package from either its own resources or from other (private sector) sources, such as bank finance or other commercial lenders. Loans are typically offered at an interest rate of 6% and are repayable over a period of up to 5 years. Security will be taken where appropriate and capital holidays of up to 3 months can be considered. Should your funding requirement be for more than 50% of the total funding package, the application can still be considered but will be subject to a higher degree of due diligence and additional security may be required.

Upon registering an enquiry, businesses will be allocated a Loan Officer who will guide them through the process, offering support and assistance where relevant including Business Gateway Lanarkshire and the Enterprise Development team within North Lanarkshire Council. Once the completed application is submitted, a decision and issue of the loan is expected within 4 weeks (20 working days).

To find out more about the funding available from Business Loans Scotland or to submit an initial enquiry, please visit www.bls.scot.

Business Transformation Fund
  • The Business Transformation Fund 2019-20 is now open and accepting applications but the eligibility criteria have been significantly revised. Please download and read the "Guidelines for Applicants 2019-20" to check your eligibility to apply.  

This grant scheme helps small businesses undertake projects which will enable them to increase sales, employ more staff and grow the business to the next level. Note that eligibility criteria apply to the types of businesses and projects we can assist. For more details on eligibility criteria and the application process please refer to the pdf icon Guidelines for Applicants 2019/20 [212kb]. Business Transformation Fund grants can contribute up to 50% towards the cost of:

  • Capital expenditure: outright purchase of plant, equipment or machinery.  Maximum grant: £6,000.
  • Infrastructure improvement: expansion, conversion or other improvement to business premises. Maximum grant: £6,000.
  • Consultancy support: commissioning of external consultancy services to support the development of a growth project. Maximum grant: £3,000.
  • Training Support: staff training to raise skill levels and improve competency and productivity. Training which is required by law is ineligible. Maximum grant: £2,000.
  • Exhibition Support: participation at an industry exhibition or trade show within the UK or overseas either as an Exhibitor or Visitor. Maximum grant: £3,000.

Note that only businesses in the following key sectors can apply: Manufacturing, Logistics, Food & Drink, Health & Social Care, Life Sciences, Creative Industries, Tourism, Construction, Social Enterprise, Energy. In addition, applicant businesses must:

  • be trading mainly business-to-business (at least 50% of turnover)
  • have 50 employees or less
  • have a turnover greater than £85,000 or be able to demonstrate that turnover will reach at least £85,000 within 12 months

Applications will be assessed on a quarterly basis with submission deadlines as follows:

Application
Round

Submission deadline for
completed applications

Q1 (April - June 2019)

14 June 2019

Q2 (July - September 2019)

13 September 2019

Q3 (October - December 2019)

5 December 2019

Q4 (January - March 2020)

13 March 2020

To apply or for more information please contact the North Lanarkshire Council Enterprise Development Team by using the 'Contact Us' box, or speak to your local Business Gateway Lanarkshire office on 01236 702020 to arrange a meeting with a business advisor.

Small Business Bonus Scheme

This scheme aims to reduce the rates burden on small businesses of which the combined rateable property value is £35,000 or less.

Combined rateable value:

Up to £15,000100% (ie no rates are payable)
£15,001 - £1800025%
£18,001 to £35,00025% on each individual property with a rateable value of less than £18,000

Each individual property must have a rateable value of less than, or equal to, £18,000.

Please use the 'Non-Domestic Rates Team contact us' box if you have any questions.

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