Success of SIS means ambitious new plan

Third sector- focused lender Social Investment Scotland (SIS) said yesterday it had delivered “another year of investment growth and financial success”.

Unrestricted income, including lending, management fees, transfers andgrants for its2015-16 trading year was up 13% on the year to more than £1.3million.

SIS said income growth was underpinned by continued loan book expansion and additional management fees generated from an extended partnership with Asda.

It also said it had invested £4.3million in more than 50 organisations throughout Scotland during the latest period, including £328,000 invested from Asda Community Capital, £ 1.8million from SIS

“We have now outgrown the five-year plan from 2013”

Community Finance in 24 projects, £900,000 from the Social Growth Fund in three projects and a further £1.6million from other third-party funds managed by SIS.

Ch a i r m a n N i c k Kuenssberg said: “Social Investment Scotland has delivered another year of significant development in financial, social impact, and corporate governance terms, firmly establishing itself as Scotland’s, andoneof the UK’s, leading responsible finance providers.

“Our success has been such that we have outgrown the five- year strategy outlined in 2013 and launched a new, more ambitious strategy to be delivered by 2020.

“At its heart is an ambition to extend the remit of SIS to include hybrid models of social enterprise incorporating both financial and social objectives.”