Scottish Growth Scheme

Last updated: 8 July 2020

The Scottish Growth Scheme is a package of financial support of up to £500 million 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:

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.

UMi Debt Finance 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.

Techstart Ventures

Techstart Ventures give funding to innovative companies at an early stage of development. You can apply for equity finance of up to £2 million.

Foresight Group

Foresight Group are an infrastructure and private equity investment manager. You can apply to them for equity finance of up to £10 million.

This funding is made available in stages. At each stage you can apply for up to £2 million at a time.

Scottish Loan Scheme

Through the Scottish Loan Scheme, Scottish Enterprise offer loans to businesses looking to grow.

Business can apply to the Scottish Loan Scheme for loans of between £250,000 and £2 million. In some circumstances, they might be able to apply for up to £5 million.

To apply, businesses must:

  • have a business plan
  • be able to show how they'll repay their loan
  • be least 2 years old
  • have a minimum turnover of £250,000
  • be profitable, or expect to make a profit in the next 12 months
  • have headquarters in Scotland, be operating in Scotland, or looking to locate to Scotland
  • have tried to get other funding but were unsuccessful
  • show how the funding they need will have an equal level of economic impact in Scotland
  • show that they use fair work practices, such as the living wage, and do not use zero hours contracts

You can find more information on the Scottish Enterprise website