1. Business Gateway Access to Finance Loans for New Start Businesses Alan King. 29 September 2014

2. Background  Government Funded Scheme  Start Up Loan Company (SULCO) set up to deliver the loans  WSLF Management Services Ltd manage and administer the loan in Scotland  The loan will be branded as Start Up Finance Scotland, and marketed under this name  Helping people with a viable business idea get the funding they need to start their own business

3. Background (Cont’d)  To 30 June 2014 over 19000 businesses have been backed with loans totalling over £96m in England, Wales & Northern Ireland  Start Up Loans started in Scotland in early 2014

4. Who Provides The Loan?  Funding comes from the UK Government  The Start Up Loans Company Ltd set up to deliver Start Up Loans  Loans, Aftercare & Support delivered using local delivery Partners  In Scotland: WSLF Management Services Ltd & Business Gateway

5. Loan Recipient  Personal Loan that can be applied for by individuals who are starting a business or who have recently started a business  Business must be trading for less than 12 months  Failure repay might result in action to recover any monies outstanding  Might result in registration of the debt with credit reference agencies

6. Loan Features  Loans granted are Unsecured Personal Loans regulated by the Consumer Credit Act (CCA)  Loans are granted under the name of the applicant who remains solely responsible for the repayment of the loan  Loans are credited to the Personal Bank Account of the applicant  Up to 3 people can apply for loans contributing to the same start up business

7. Loan Features (Cont’d)  Applicants must be aged 18 years or over  Amount: Minimum £1000. Maximum £25000  Repayment Period: Between 1 and 5 years  Interest: Fixed rate of 6% (Equates to 6.2% APR representative)  Interest only periods of up to 6 months may be considered and 12 months in exceptional circumstances.  Seasonal repayments can be factored in

8. What can the Loan be used for? Start Up Costs – materials, equipment, machinery, licences, (HGV), marketing, website, property refurbishment Working Capital – only in ‘exceptional’ circumstances eg: first 2-3 months of trading whilst invoices are waiting to be settled/paid

9. Further Information  For further information on the Start Up Loan Scheme please visit: www.startupfinancescotland.co.uk

10. Contact Us  Business Gateway Scottish Borders Ettrick Riverside Business Centre Dunsdale Road Selkirk TD7 5EB Tel: 01835 825600 E-mail: info@bgborders.cominfo@bgborders.com Website: www.bgateway.comwww.bgateway.com Facebook: www.facebook.com/bgborderswww.facebook.com/bgborders Twitter: www.twitter.com/bgborders

11. Q & A