The Scottish Government is to provide additional funding to ambitious businesses, through the Scottish Growth Scheme. The next phase of the £500 million programme will offer a range of financial support to new and existing SMEs that are keen to grow.
Support will include:
- microfinance loans of up to £25,000
- debt or loan finance of up to £100,000
- equity investment of up to £2 million
- loans of £250,000 to £2 million (up to £5 million in exceptional circumstances) for growth-focused SMEs with a viable business plan and a clear ability to repay the debt.
The funding is provided through a series of different initiatives, some delivered by Scottish Enterprise and some by fund managers appointed by the Scottish Government. More details at https://www.mygov.scot/scottish-growth-scheme/