West Dunbartonshire Council launches interest-free capital loans for community groups
West Dunbartonshire Council is offering interest-free capital loans of up to £10,000 to neighbourhood organisations in the area ‒ and is one of the first local authorities in Scotland to launch such a scheme.
The Community Loans Fund is intended to help fund capital projects that will improve the appearance of the area, attract people into West Dunbartonshire, raise its profile, create jobs, and enrich the lives of residents.
Stringent measures to protect against breach of trust will be put in place before any money is granted; assets bought using money from the Community Loans Fund will be kept in trust on behalf of the council during the repayment period of up to five years, and personal guarantees are required.
Councillor Kath Ryall, convener of West Dunbartonshire Council’s corporate services committee, said: “This is a great opportunity for community groups to get involved in shaping the future of our area and deliver projects that will make a real difference.
“As a council we are committed to economic growth and job creation, as well as maintaining the wellbeing of our communities, and I would encourage any organisation with a project in need of capital funding to apply to the Community Loans Fund.”
Vice convener, Cllr Tommy Rainey, added: “This is an opportunity to make ambitious plans a reality when the economic climate is making capital funding difficult to come by.
“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.”
To find out more about the fund, or to apply, click here.