The Scottish Growth Scheme is a £500 million package of financial support for Scottish businesses. It's backed by the Scottish Government and aims to help businesses grow.
This funding will be provided through a series of initiatives which businesses can access for investment.
The following initiatives are currently open for applications:
Scottish-European Growth Co-investment Programme
The Scottish-European Growth Co-investment Programme supports businesses looking to raise £2 million or more in equity finance (selling shares) to grow their business.
It's delivered by Scottish Enterprise through the Scottish Investment Bank, in partnership with the European Investment Fund.
Find out more information on the Scottish Enterprise website.
Loans and equity finance from fund managers
Small and Medium Enterprises (SMEs) in Scotland can apply for:
- microfinance loans of up to £25,000
- debt or loan finance of up to £100,000
- equity finance of up to £2 million
This funding comes from the Scottish Government and the European Regional Development Fund.
Businesses can apply to the following fund managers:
DSL Business Finance Limited
DSL Business Finance Limited are a not-for-profit microfinance lender in Glasgow. You can apply to them for loans of up to £25,000.
Business & Enterprise Scotland Ltd
Umi Debt Finance Scotland are an employee-owned business in Edinburgh. You can apply to them for loans of £25,000 to £100,000.
Business Loans Scotland
Business Loans Scotland is made up of a collection of local councils. You can apply to them for loans of £25,000 to £100,000.
This funding is made available in stages. At each stage you can apply for up to £2 million at a time.
Scottish Enterprise loans
SMEs can also apply to Scottish Enterprise for loans of £250,000 to £2 million.
Some businesses might be able to get up to £5 million, depending on their circumstances.
These loans are for SMEs looking to grow their business. To apply businesses will need:
- a business plan
- to be able to show they can repay the debt
You can find more information by contacting Scottish Enterprise.