Charity lender continues to grow

Social Investment Scotland (SIS) has reported a 15th consecutive year of growth.

The group – which was set up in 2001 to explore new funding options for charities and social enterprises – said total unrestricted income including lending operations, fees, transfers and grants had reached £1.46 million in the year, an uplift of 11% on the year previous.

Over the course of the year, the group invested a total of £3.4m in 35 organisations throughout Scotland.

The total included £502,000 from the Asda Community Capital Fund and £1.1m from SIS Community Finance.

“Just as social enterprises are becoming more knowledgeable about the range of financial options available to them, so SIS has worked hard to ensure that we continue developing financial products and business support services which meet the sector’s changing needs,” SIS CEO Alastair Davis said.

“We are not only lending money to our customers, we are providing them with a partner and adviser to support them on their journeys to create sustainable futures.

“Programmes such as our investment readiness programme have been a crucial part of this activity, helping social enterprises to understand the challenges not just in accessing capital, but in getting their organisations finance-fit.”

Support: the Social Investment Scotland team.