If applying for an award which is a grant/loan mix, the following terms will apply to the loan element.

• 5% Fixed Flat-Rate Interest (this equates to a rate of approximately 9.5% - 9.7% APR)

• Maximum five year repayment term

• Loan repayments will commence the month following the drawdown of the loan funds and all payments are made monthly on the 28th of the month

• Interest will accrue to the date of repayment. So, if the loan is taken over five years but paid within four the interest will not be payable for the fifth year

• We will not take personal guarantees or any other form of security

• All loans awarded are provided by Scottish EDGE C.I.C.

Part of the award is Minimal Financial Assistance Subsidy funding, how does this affect me?

The grant element of all the awards we make is classed as Minimal Financial Assistance Subsidy (state aid) and can’t be used as match-funding against any other public funding grant applications.

The loan element isn’t state aid and therefore can be used as match-funding.

It is necessary for any business applying for funding from the public sector to disclose whether previous awards have been given as ‘Minimal Financial Assistance Subsidy’ and to ensure that you do not breach allowance levels.

Details of this and further support relating to de minimis funding can be found at:

https://www.scottish-enterprise.com/support-for-businesses/funding-and-grants/business-grants-and-fundingcalls/minimal-financial-assistance-guidance

Applicants must be within the Minimal Financial Assistance allowance to obtain this support

at the point of any award being granted. We would encourage all applicants to always seek

appropriate financial advice prior to receiving any grant funding.

All Scottish EDGE award grants are taxable if you are trading and non-taxable if you are pretrading. All winners are encouraged to seek professional advice on the tax implications of grant funding support.