The Digital Development Loan was created by the Scottish Government to provide loans to companies who wish to improve their digital capabilities and capacity. The loan also covers staff digital skills development as part of the Scottish Government’s drive to improve economic productivity.
- Borrow between £5k – £100k
- Interest-free (fix rate at 0%)
- Up to 5 years repayment terms
- No administration or early repayment fees
- ScotGov funded
- No penalties for early settlement
Applicant businesses must be registered or based in Scotland
The business is registered in Scotland as an Ltd company or the applicant must be registered with HMRC as a sole trader with a unique tax reference number (UTR)
Charities and third sector organisations can apply
Must be trading for a minimum of 6 months. (Applicant business must have been receiving sales income for at least 6 months)
The purpose of the loan must be to improve the digital capacity, digital capability or digital skills of your workforce
Applicants must be over the age of 18
Applicants must be a UK resident with the right to work in the UK
Businesses must meet the European definition of an SME in relation to employees, balance sheet and turnover (made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million euro, and/or an annual balance sheet total not exceeding 43 million euro)
All Industry sectors are eligible for consideration. The assessment will focus more on the contribution of the project to the fund objectives.
To apply you need to register first at https://digitaldevelopmentloan.org then log in to apply for the loan online.
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