Investing in growth
The ONE Enterprise Fund is a private sector loan fund supporting business growth and employment in north east Scotland.
The ONE Enterprise Fund, created by Opportunity North East in partnership with the Andrew Salvesen Family Trust, supports business growth and employment across north east Scotland's leading industry sectors. The £2 million fund helps ambitious businesses at critical points in their growth by providing interest-free loans that are repayable within five years. Recipients also benefit from engagement in ONE's activity in the region.
The Fund will distribute up to £2 million over five years with around £400,000 of loans made in any one year. The Fund is evergreen with the amounts repaid becoming available for distribution in the future.
Criteria and eligibility
The loans support businesses with clear growth plans. Applicants should be located in the region, engaged in Opportunity North East’s programmes and projects, and operate in a priority industry sector, which includes food, drink, agriculture; life sciences; tourism; digital; and oil, gas and energy.
The ONE Enterprise Fund loans address specific funding requirements that will produce a tangible commercial outcome. Examples include capital expenditure or working capital, commercially focussed innovation projects, export and internationalisation, or securing relevant skills and experience.
Applicants need to show they are thinking commercially, have existing customers and a well-defined route to market, and profitability.
The Fund may consider applications from early-stage businesses if they can demonstrate that the funding applied for will help them to secure meaningful equity investment or achieve a significant commercial milestone in their growth plans.
To arrange an initial discussion, contact the ONE Enterprise Fund Manager, Mary Jane Brouwers, by email at ONEEnterpriseFund@opportunitynortheast.com.
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