How it works

How does the Fund Work?

The fund is available through North Highland Regeneration Ltd and managed by Caithness Chamber of Commerce (the Managing Agent) on the basis of funding from the Nuclear Decommissioning Authority (NDA).

Loans of between £5,000 and £50,000 are available.  The Fund only offers support by the way of loans.  Grants are not available from the Fund.  

Under EC regulation 1998/2006 (de minimis aid regulation), NHRF loans are considered de minimis aid. There is a ceiling of €200,000 for all de minimis aid provided to any one firm over a 3-year period. Any de minimis aid awarded to a firm will be relevant if it wishes to apply, or has applied, for any other de minimis aid. For further information on de minimis and state aid see the State Aid Scotland website.

All enquiries are welcome from businesses in the Dounreay travel to work area, so feel free to contact the Managing Agent team on 01847 500103 for an informal discussion to establish eligibility criteria.

There are three key elements to the fund:

• The Scheme Rules - which set out the eligibility criteria
• The Application Guidelines and Loan Application - a formal application will need to be submitted along with supporting documentation
• The Loan Agreement - if the loan is awarded a formal legal loan agreement will be drawn up between both parties

Loan applications are submitted by the Managing Agent to the NHRF Board decision panel at regular intervals for approval.