Decision details

(i)        to note that the Council’s investment in Business Loans Scotland of £225,000 will be repaid when the loan fund is closed;

(ii)       to approve the Council’s continued participation in a new national loan fund model whereby appropriate council officers will only be required to carry out initial verification of local businesses with all due diligence being carried out by a specialist team. As the Scottish Government is providing all the loan funding there will be no direct financial implications to the Council; and

(iii)      to approve the implementation of the Co-operative Business Development Fund to support local businesses to deliver pilot projects and events designed to increase their business prospects per the proposals at 3.8 to 3.13.