South of Scotland Enterprise (SOSE) are here to provide support to help you grow and achieve your business ambitions.  If you have a gap in funding that is preventing you from starting a project, a SOSE loan may help. 

SOSE loans can be used by businesses in the Dumfries and Galloway and the Scottish Borders to finance business growth, capital expenditure and innovative projects.

Loans can be used to fill funding gaps in projects that aim to grow your business and commercialise new ideas.  Projects should contribute towards the sustainability of the business and inclusive growth ambitions.  There are no sectoral restrictions. 

To be considered eligible to apply for a loan from SOSE you must be able to meet the criteria outlined in the table below. 

 

Location Based in Dumfries and Galloway or the Scottish Borders area
Company Number Must be registered at Companies House
Trading Two years and profitable
Turnover Minimum c£100,000
Fair Work Must be able to demonstrate Fair Work practices
Net Zero Must be able to demonstrate transitioning to Net Zero 

Application form & download

 

If you are interested in applying for a business loan from SOSE and you meet the above eligibility criteria, please click below to download our expression of interest form.

Please complete this document ensuring the details included are as accurate as possible and submit the file using the upload facility below. 

Complete the required information on the short form below, click “upload files here” and attach your completed expression of interest form.  When you are happy with the data, click “submit”.

If you are having problems downloading, completing or submitting your application form, please get in touch using our contact page or call us on 0300 304 8888 and we can help.

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Details about the fund

Loans are just one of the ways SOSE can help businesses in the South to thrive, grow, and fulfil their best potential.  We offer other forms of assistance including grants, training, and expert help.

 

Each business and situation is different, so our services are tailored accordingly.

 

The most appropriate assistance is provided depending on the specific circumstances of your proposed project.  

What are the typical terms?

Value

£50,000 - £500,000

Term

3-5 years (maximum 10 years)

Repayment profile

Monthly capital and interest repayments

Security

Bond and Floating charge (in some cases)

Interest

Fixed rate of interest – determined by risk and security – minimum 8%

Admin fee

Nil

Early redemption fee

Nil

If your expression of interest fits with SOSE strategic priorities and available budget, we will need to gather further information relating to your organisation and project. 

 

Each proposed loan will be assessed individually based on a range of criteria including:

  • Job creation
  • Economic impact on the local area
  • Innovation
  • Business improvement
  • Net Zero
  • Fair Work opportunities

Loan and grant funding opportunities, as well as available budget, are subject to change.

Stage 1:  Expression of Interest

Initial feedback on the Expression of Interest form should be received within 5 days of submission.

Stage 2: Approval

If successful, the time taken to approve a loan will be dependent on the flow of information from you to the SOSE team in support of our due diligence.

Once due diligence is complete, SOSE should be able to provide a decision on your loan typically within 4 weeks.  Projects in earlier stages of development will take longer.

Stage 3: Post approval

If approved, a loan agreement will be prepared, and appropriate security will be registered by SOSE lawyers. Wet signatures are required for the security process. 

Typically loan funds can be drawn down within 4 weeks of approval if signed agreements are returned promptly.

If your loan application is not successful, you will receive feedback that includes possible alternative assistance.

If your business or project does not fall within the typical criteria SOSE may still be able to assist you.  Click here to see more detail on the wide range of support and services SOSE offer.  Please click here to get in touch with details of your project. 

More information on loans from other organisations:

Application Submission Form

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