£150m Business Investment Fund for Scotland Launches in 2023
Loans and equity finance to support the growth of small and medium-sized businesses in Scotland will be available from summer 2023.
The British Business Bank is set to launch a £150 million investment fund later this year, aimed at driving the growth of small and medium-sized businesses in Scotland.
The Investment Fund for Scotland is one of a series of Nations and Regions Investment Funds being launched by the British Business Bank which will deliver a £1.6 billion commitment of new funding to smaller businesses across the UK.
The scheme will have a demonstrable presence across Scotland, linking up with the existing small business finance ecosystem to increase reach and create an impact by helping to boost productivity, innovation and jobs.
The £150 million for will offer a range of commercial finance options, with small loans from £25,000 and equity investment up to £5 million.
By increasing the supply and diversity of early-stage finance for smaller businesses in Scotland, the Fund aims to tackle an identified funding gap. Similar funds are planned for Wales, Northern Ireland and the South West of England, along with follow-on funds for the Midlands and the North of England.
The British Business Bank expects to appoint fund managers in the spring, ahead of launching in the Fund in summer 2023.
(This report was the subject of a GRANTfinder Newsflash.)