Frequently Asked Questions

What if I have a bad credit history?

You can still apply. The board will ask for a credit report but it is the business and economic impact that are considered key.

If I get turned down when can I re-apply?

6 months after the date that your application was declined.


Who can apply for the loan?

Any business, at any stage who are located within the county of East Lothian.


Are there any restrictions on what the loan can be used for?

The loan can be for any purpose, except the repayment of debt.


What are the key criteria looking for by the board in an application?

The board will consider firstly the economic impact the company will make to the county, for example: job protection.  Then the history, operating sector, importance to East Lothian and long term viability of the business.


If I am successful with my application when can I expect to receive the fund?

The loan is paid to you on receipt of the signed contract (scanned), any caveats that are required to be met and the payment of the arrangement fee.  It is intended that payment will be made within 3 business days of approval if all documents have been provided.

How are the loans repaid?

The loans are repaid by direct debit taken on the 1st of each month, usually over a normal period of 48 months and after any pre-arranged payment holiday period has ended.

For further information or clarification please refer to the guidance notes or any specific queries can be e-mailed to: