Companies who wish to improve their digital capabilities and processes in areas such as cyber security, data analytics and software engineering or are looking to develop their staff's digital skills, are being urged to enquire about the new Digital Development Loan.

Recently launched by the Scottish government, the fund aims to help improve digital economic productivity across Scotland.

And with 0% interest rates and the option to spread the cost of investment over 3 to 5 years, this is an appealing way for firms to meet the upfront business costs of investing in digital technology and skills and repay the funding in later years at no extra cost.

How can the funds be used?

•  The purpose of the loan must be to improve the digital capacity and or capability of the business.

How much can I borrow?

• The Minimum Loan value is  £5,000
• The Maximum Loan value is capped at £50,000

Who can apply?

• SME Businesses located in Fife
• Businesses which have been Trading for a minimum of 6 months
• Applicants aged 18 or over
• Applicants must be a UK resident with the right to work in the UK.

What to do next

Contact Business Gateway Fife on 01592 858333 for more information and guidance on the application process.

More information can be found at www.digitaldevelopmentloan.org