The Scottish Government have launched a £2 million Digital Development Loan to provide funds to companies who wish to improve their digital capabilities and processes, focusing on areas such as cyber security, data analytics and software engineering.
Loans will range from £5,000 to £50,000 with the interest rate set at 0%. Loan periods range from 3 months up to 5 years.
Economy Secretary Keith Brown said:
“We are committed to investing £36 million to improve Scotland’s digital productivity and ensure we are ready to embrace the opportunities of a digitally driven economy in the future. The £2 million Digital Development Loan is the first phase of that process and will provide access to finance for small and medium sized businesses who want to improve their digital capabilities and the skillset of their staff.
“The Scottish Government will continue to work with business to ensure companies across Scotland have support they require to invest in their company, their staff and in their digital future.”
Lanarkshire Enterprise Services Ltd (LESL) will manage the Digital Development Loan.
Liz McCutcheon Operations Manager at LESL said
"We are delighted to have the opportunity to manage the Digital Development Loan on behalf of the Scottish Government. This loan will be a great asset to Scottish Businesses to help them increase their digital skills, invest in digital equipment and ultimately support the deployment of digitally enabled processes to boost the economy in Scotland."
Further details from Scottish Government and Digital Development Loan.