Support For Highland Businesses From Highland Council Loan Company
8th March 2023
Highland Opportunity (Investments) Limited HO(I)L, The Highland Council's business loan company has launched its first social media campaign to make Highland businesses and community organisations aware of its loan funds. HO(I)L has financially supported more than 1,200 local start-up businesses, community organisations and growth projects within the Highland Business community since it was established in 1986.
This social media campaign is designed to promote HO(I)L's loan fund and should help to support even more businesses and encourage applications from all businesses sectors, including community organisations. Interested businesses will benefit from straightforward loan conditions and a tailored offer to support their project.
Councillor Paul Oldham, Chair of HO(I)L said: "Many Highland enterprises have been able to take their ventures forward with the help of HOIL but we're always looking for new ones to help, be they large or small. Our team are here to help and can guide you through putting an application together."
The social media campaign is due to start in March 2023 and will outline the features of the loan fund and will include case studies of businesses that have recently been supported by HO(I)L.
HOIL prides itself on its flexible and reliable approach as a provider of gap finance to enable businesses to invest and grow. HOIL's funding investment in Highland businesses has contributed to loan clients securing additional business finance from other lending sources. Generally, every £1 invested by HOIL results in the business sourcing an additional £3 towards their total funding package.
HOIL has an asset base of £2.25m and currently has £1.13m invested in loan finance with 75 Highland business. In addition to its own Loan Fund, HOIL also delivers 2 loan schemes on behalf of the Highland Council. A £1 million Community Loan Fund which offers loan support for community companies, enterprises and community bodies within the Highland Council area and a £240,000 Growing Business Growth Fund for existing business looking to grow or diversify.
