Rural business fund
Perth and Kinross councillors have agreed to implementabusiness loan fund forrural businesses.
The Business Micro Credit Fund will operate through the Perth and Kinross Credit Union.
Rural micro businesses (either existing or proposed start-ups) will be able to apply for loansof between £500-£1500 at an interest rate of three per cent over six months to two years.
Councillors at last week’s strategic policy and resources committee unanimously approved the loan scheme.
The fund was created on the back of the success of the council’sRural Micro Enterprise fund which has so far helped support 63rural businesses across Perth and Kinross.
Conservative councillor RozMcCall told the PA the scheme has been well received bybusinesses, with an average grantof £3750 being awarded.
She said feedback shows“an increase in jobs, productivity and sales as a direct resultof this investment.”
Conservative councillor ColinStewart is said to have been the driving force behind the latest scheme aimed specifically at small rural businesses.The councillor, who was recently ousted from his party’s council group on aseparate matter, was thanked by both SNPcouncillor Grant Laing and theTory leader who suspended him.
Tory council leader Murray Lyle said:“It will provide much-needed funding for such small businesses. I am pleased to see us working with the Credit Union to establish this fund.”
Cllr Stewart said:“I think this will be an exciting andinnovative way of supporting the rural businesses.”
The Strathmore councillor told committee members it will boost“jobs and economic activity in rural areas.”
Strathearn Conservative councillor, Roz McCall said:“It is important that we follow onfrom the good work already started and continue working to help micro businesses.
“This new Micro Credit Loan Fund is a perfect way to continue this support andI welcome the involvementof the Perth and Kinross Credit Union, working in partnership on this issue.”
“I fully support the administrations’ drive to help businesses both big and small and will be interested in the progress of just how these new loans add to the good work already started.”