A £2 MILLION loan scheme has been launched to help Scottish firms improve their digital skills and technology.

Companies will be able to apply for a digital development loan to improve staff skills or invest in areas such as cyber security or data analytics.

The Scottish Government loan for small and medium sized businesses will have a 0% interest rate and will help firms to spread the cost of investment over three to five years.

Economy Secretary Keith Brown said: “We are committed to investing £36m to improve Scotland’s digital productivity. The £2m digital development loan is the first phase of that process and will provide access to finance for small and medium-sized businesses who want to improve their digital capabilities and the skillset of their staff.

“The Scottish Government will continue to work with business to ensure companies across Scotland have support they require to invest in their company, their staff and in their digital future.”

The loan will be managed by Lanarkshire Enterprise Services, which provides specialist business support for small to medium enterprises.

Operations manager Liz McCutcheon said: “This loan will be a great asset to Scottish businesses and ultimately support the deployment of digitally enabled processes to boost the economy in Scotland.”