A council in Scotland is offering voluntary groups interest-free cash to help kick-start its regeneration plan.

 

West Dunbartonshire Council is offering loans of up to £10,000 to neighbourhood organisations – and is one of the first local authorities in the country to launch such a scheme. 

 

The Community Loans Fund is intended to help fund capital projects that will improve the appearance of the locale, attract people to the area, create jobs and enrich the lives of residents.

 

There will be stringent checks to protect against any breaches of trust before any money is granted and assets bought using the fund will be kept in trust during the repayment period of up to five years.

 

Kath Ryall, Convener of West Dunbartonshire Council’s Corporate Services Committee, said it was a great opportunity for community groups to get involved.

 

“As a council we are committed to economic growth and job creation, as well as maintaining the wellbeing of our communities, and I would encourage any organisation with a project in need of capital funding to apply to the community loans fund,” said Kath. 

 

Tommy Rainey, Vice Convener, added: “This is an opportunity to make ambitious plans a reality when the economic climate is making capital funding difficult to come by. 

 

“I would urge any voluntary group in West Dunbartonshire with an eligible plan to take up this offer, working in partnership with the council to improve our communities.”