‘Rich ecosystem of ambitious small businesses’: West Lothian’s top list of Scottish successful startup loan applications

Entrepreneurs under 65 in West Lothian secured 279 loans from the Startup Loan Program, the highest in Scotland, according to analysis released by the British Business Bank to mark the launch of Business Finance Week. shows the loan rate for the adult population of 2.4 per 1,000 – since the scheme was launched in 2012.

The Clackmannanshire and Highlands Municipal Areas came in second with a loan rate of 2.3, ahead of both Scottish cities and the larger Council Areas. A small business owner in Edinburgh received the highest loan at £8.29 million, though he had the fifth highest loan at 2.1 per 1,000 adults.

British Business Bank is hosting Business Finance Week 2022 aimed at helping small businesses learn about the various financial options available.Louise McCoy, commercial director of the organization startup loan arm says:

“We are very encouraged that West Lothian, and particularly Livingstone and its surroundings, has a rich ecosystem of ambitious small businesses with access to capital to support their growth plans.” Louise McCoy says Photo: Contributed.

West Lothianespecially in and around Livingstone, has a rich ecosystem of ambitious small businesses, and it is very encouraging to have access to funding to support their growth plans… our Previous research has pointed to distance from financial centers as a key challenge. Business Finance Week aims to make business owners aware of the many options available. “

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