£3m boost for Scottish Investment Fund
Social Investment Scotland (SIS)
An extra £3 million pounds is being made available by the Scottish Government to help social enterprises improve their capability, capacity and sustainability.
This adds to the £28.8m that has already been invested through the Scottish Investment Fund in more than 50 organisations in the last three years.
Social Investment Scotland, which manages the Fund, is encouraging the country’s most innovative social enterprises to apply from next week.
Alastair Davis, Investment Director, Social Investment Scotland said; “We are delighted that a further £3m has been added to the Scottish Investment Fund. Over the past three years the Fund has delivered significant investment into over 50 organisations, generating a wide range of impacts and quite literally changing people’s lives. This next phase of investment will ensure that further positive outcomes can continue to be made across Scotland.”
Finance Secretary, John Swinney said;
“The Scottish Government recognises the valuable contribution social enterprises make to supporting economic recovery, and the important role they play in delivering some of Scotland’s key services. Our strong commitment to doing all we can to support their development is underlined by the provision of the additional £3 million for the Scottish Investment Fund.”
For more information on how to apply for the fund please visit: http://www.scottishinvestmentfund.co.uk/index.cfm
Or Contact Social Investment Scotland on 0131 558 7706
Social Investment Scotland (SIS) aims to help to grow the size and sustainability of the social economy in Scotland. In particular, the emphasis on the provision of loan funding provides a more predictable and sustainable form of finance. Since 2008, SIS has managed the Scottish Investment Fund on behalf of the Scottish Government. By March 2012, SIS expects its portfolio of live investments in social enterprises in Scotland to reach £35m, of which around £25m will be in the form of repayable loans. This ensures that money is recycled and reinvested for future benefit.