Issue - meetings

Report by Executive Director – Development and Infrastructure Services

The Committee gave consideration to a report providing an update on the proposed transfer of surplus funds from the West of Scotland Loan Fund (WSLF), which is no longer active following the launch of Business Loans Scotland (BLS), to Argyll and Bute Council. 

Decision

The Policy and Resources Committee approved that the transferred funds from the WSLF surplus be used to finance:

1.    £75k of match funding, circa £25k per annum for 3 years, for a Phase 2 Argyll and Bute Business Gateway Local Growth Accelerator programme, subject to a successful application.

2.    Additional SME support circa £75k, specifically linked to the Rural Growth Deal initiatives if opportunities are identified. 

(Reference:  Report by Executive Director - Development and Infrastructure Services, dated 16 August 2018, submitted)