The Scottish Football Association has agreed a deal with merchant bank Close Brothers to allow SPFL clubs the opportunity to access loans amid the COVID-19 shutdown.
SFA president Rod Petrie has written to member clubs outlining the terms of the agreement - giving sides two options to borrow funds as a way of mitigating the financial impact caused by the pandemic.
Clubs can apply for the Coronavirus Business Interruption Loan Scheme (CBILS) through the UK government to the tune of up to £5million for teams with a turnover of £45m or smaller.
However, "more traditional lending routes" of loans, hire purchases or leases up to £5m are also to be made available.
The merchant bank, which boasts assets of around £13billion, already have a footprint in Scotland having a relationship with Rangers.
It comes as several sides take stock of their financial outlook ahead of the new season.
Hibernian have already issued a dire financial warning, claiming their revenues will be cut in half over the next season.
The Easter Road side announced huge cuts to their annual budget, including layoffs to youth coaching staff and voluntary redundancies offered to non-playing employees.
In a letter to clubs, Petrie wrote: "I am pleased that I was able to bring a proposal to the board of the Scottish FA which I can now share with you as a proposal.
"The Scottish FA has agreed in principle a partnership with Close Brothers, a modern merchant bank which is prepared to receive applications for COVID-19 related funding from clubs.
"The SFA will pass enquiries from clubs on to Close Brothers.
"There is no commission for introductions or any other financial incentive for the SFA.
"I hope you welcome this initiative by the Scottish FA to introduce Close Brothers, a respected lender which is prepared to engage with clubs at this challenging time for us all."
