The Scottish Plastics Loan Fund (SPLF) is currently a £2.5m fund designed to support the development of new mixed plastics capacity in Scotland. The fund aims to support 50,000 tonnes of annual capacity to mixed plastics packaging from landfill by 2015. If you have a project to develop plastics recycling/processing infrastructure and are finding it difficult to obtain finance from the usual commercial sources, Zero Waste Scotland may be able to help.
Administration
The SPLF will be administered by Scottish Enterprise.
Investment objectives
The fund can provide asset backed loans for plant, machinery and/or groundwork’s. The typical maximum loan is £1.25m; requests for loans above this will be considered only at the discretion of the Investment Committee.
The maximum term for loans is five years though early repayment or shorter terms are regarded favourably.
Terms will be determined by the overall risk profile of your project, including the financial history and credibility of your business, the amount and proposed duration of the loan and any other terms requested. You should be able to demonstrate that you are unable to secure finance from the usual commercial sources when applying to the SPLF.
Apply for a Scottish Plastics Loan
Your project must meet the Project Eligibility Criteria. To access the Eligibility Checklist please click on the button above. When you have completed the checklist, please return it to us by email.
On receipt of the completed checklist, you will be contacted, usually within 5 working days, by a Project Manager to briefly discuss your project. If your project is suitable for the loan fund, you will be sent an application form for completion.
Once fully completed, your application form will be assessed against the technical, financial and strategic criteria and a briefing paper will be submitted to the Scottish Enterprise Investment Committee.
If approved, Scottish Enterprise will make you an offer which will be non-binding and subject to full due diligence. If you accept the offer, Scottish Enterprise will proceed to due diligence, culminating in the formal finance agreement and security documentation being agreed.
Contact us
If you have any questions about the process that we will use, please email Anna Cummins anna.cummins@zerowastescotland.org.uk or call 01786 433975.
If you have questions about the criteria we will use to assess your project, please email Tim Baldwin tim.baldwin@zerowastescotland.org.uk or call 01786 433979.
