Emergency COVID-19 fund for housebuilders in Scotland: FOI release

Information requested

"Details of the level of due diligence carried out by government officials and criteria used prior to determining the amount of the recent loan grant...through the emergency Coronavirus fund for housebuilders in Scotland."

Response

All applications for the liquidity support fund for SME housebuilders were subject to stringent due diligence assessments which included company credit checks. Applicants had to provide extensive details of their company which included credit structure, ownership and directors; a copy of the company’s last available accounts; cashflow; existing lenders and securities; and details of what security could be offered. Furthermore, applicants were obliged to submit evidence and provide certification to demonstrate that their business was not in difficulty before COVID-19 for state aid compliance purposes.

Additionally, all applications for loan funding over £50,000 were assessed by a committee before a loan was either fully awarded, partially awarded or declined.

Further information on the application process is available at this address: Coronavirus (COVID-19): liquidity support for SME housebuilders - gov.scot (www.gov.scot)

About FOI

The Scottish Government is committed to publishing all information released in response to Freedom of Information requests. View all FOI responses at http://www.gov.scot/foi-responses.