Details

Westray Community Business Loan Scheme utilises the income generated from the 900kW community wind turbine to support sustainable economic development in Westray in order to benefit the social, cultural, and economic life of the Westray community.

Applications are welcome if they meet the following criteria:

• Owned and operated in Westray.
• Maintains and/or creates new employment in Westray.
• Supports the viability of other locally owned and operated businesses.
• Brings clear and identifiable benefits to the community of Westray.
• Provides a local service/benefit service but is at risk of closure.
• New business setting up in Westray and meets a community need or brings local benefits.
• Is resident or will be resident in Westray before loan is finalised.

Premium information is available exclusively to SCVO members and supporters

Geographical areas funded: Scotland East Ayrshire North Ayrshire South Ayrshire Clackmannanshire Falkirk Fife Stirling East Lothian Edinburgh Midlothian West Lothian East Dunbartonshire East Renfrewshire Glasgow Inverclyde North Lanarkshire Renfrewshire South Lanarkshire West Dunbartonshire Aberdeen Aberdeenshire Argyll and Bute Highland Moray Na h-Eileanan Siar Orkney Shetland Dumfries and Galloway Scottish Borders Angus Dundee Perth and Kinross

Fund type

Type of funding:

Loan

Type of cost:

Capital, Revenue, Core costs

Who can apply

Applications are welcome if they meet the following criteria:

• Owned and operated in Westray.
• Maintains and/or creates new employment in Westray.
• Supports the viability of other locally owned and operated businesses.
• Brings clear and identifiable benefits to the community of Westray.
• Provides a local service/benefit service but is at risk of closure.
• New business setting up in Westray and meets a community need or brings local benefits.
• Is resident or will be resident in Westray before loan is finalised.

When to apply

Apply at any time.

WDT’s Community Business Loan Scheme is dependent on the availability of funds and, for this reason, may not be able to offer loans more than once in a financial year or at all. Loans may include below commercial interest rates or more favourable terms.

Applicants should be aware that the loan process is lengthy. The Board only meets monthly and assesses applications on that time basis. If successful at that first stage, it is then submitted to SCF Ltd to undertake due diligence processes.

How to apply

Download the application form and submit to Westray Development Trust.

Contact information

Exclusions

Premium information

Activites funded: Community development and regeneration Community facilities Community safety General charitable activities

Beneficiaries funded: Local communities

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Last reviewed 4 months ago