At Booth Electrical Services we take the hassle out of applying for the Scottish Government SME Loan. If you think you could be eligible, don’t hesitate to contact our expert team and we’ll help you every step of the way.
The Scottish Government is committed to supporting small and medium sized businesses in Scotland to help reduce energy and resource costs. Reducing operating costs not only improves your margins but can help make you more competitive as well as helping the environment.
The SME Loan provides unsecured, interest free loans for the installation of energy efficient measures. Providing your application is approved and the loan is granted, Booth Scotland Services can supply and install all lighting and controls for your business in accordance with your loan eligibility.
To be eligible your business must:
- Be based in Scotland.
- Have been trading for at least 12 months.
- Have fewer than 250 employees.
- Have a turnover not exceeding €50 million (approximately £42 million) and/or a balance sheet total not exceeding €43 million (approximately £36 million). (Calculated in accordance with European Commission Recommendation 2003/361/E).
- Have no controlling interest more than 25 per cent by a non-SME.
- Have a satisfactory credit score and be able to afford repayments.
- Agree that repayments will be made within 4 years for energy efficiency only measures and within 8 years for other measures (including renewables).
- Be eligible for funding within the context of EC State Aid rules.
- Be applying for a loan of between £1,000 and £100,000*.
- Not start work prior to a decision being made on your application.