Interest-free funding available for West Dunbartonshire community projects
The new Community Loans Fund was launched in September 2015, offering interest-free capital loans of up to £10,000 to neighbourhood organisations in the area. It was one of the first local authorities in Scotland to launch such a scheme.
To date there have been no applications despite the fund’s potential to help improve the appearance of the area, attract people into West Dunbartonshire, create jobs, and enrich the lives of residents.
Councillor Kath Ryall, convener of West Dunbartonshire Council’s corporate services committee, said: “This fund is a great opportunity for voluntary organisations to bid for support from the council, and I’d urge them to get in touch to see how they can benefit.
“As a council we are committed to maintaining the wellbeing of our communities and boosting economic growth. In tough financial times community groups are increasingly important to helping us achieve that, and interest-free loan funding could help deliver projects that will really make a difference.”
Councillor Tommy Rainey, vice-convener of the committee, added: “This is a rare opportunity to make ambitious capital plans a reality. I would urge any voluntary group in West Dunbartonshire with an eligible plan to take up this offer, working in partnership with the council to improve our communities.”
The council regulates the fund to its usual standards. This includes assets bought using money from the Community Loans Fund being kept in trust on behalf of the council during the repayment period of up to five years. Personal guarantees are also required.
To find out more about the fund, or to apply, visit www.west-dunbarton.gov.uk/benefits-and-grants/community-loans-fund.