Fund targets tourism businesses

A LOAN fund to support new and expanding tourism-related businesses in Ayrshire is being promoted to the hospitality industry.

Operators of bars, restaurants and hotels in Ayrshire can apply to the Ayrshire Loan Fund, which, together with the West of Scotland Loan Fund (WSLF), Start Up Finance Scotland and East of Scotland Investment Fund, come under the management of West of Scotland Loan Fund Limited.
Businesses in the tourism, retail and food and drink sectors can apply for a loan up to 75% of the funding package, with the balance required to be provided by the private sector.
Loans of up to £100,000 are available with a repayment period of between two and seven years; and the interest rate is fixed at 5% for the term of the loan, with no set-up fees.