Fife firms secure £165k in funding to aid growth

Three Fife firms have secured funding totalling £165,000 to support their growth plans.

St Andrews Brewing Company, Creo Engineering and EVI Charge Points have received loans of £100,000, £40,000 and £25,000 respectively from Business Loans Scotland (BLS) to support business expansion and recruitment of employees.

Fully funded through the Scottish Growth Scheme and the European Regional Development Fund, BLS provides business loans from £25,000 to £100,000 to small and medium-sized enterprises.

With the £100,000 loan secured helping to increase production capacity by fivefold, St Andrews Brewing Company expects to double the size of its brewing team and add additional sales and marketing resources.

The brewer is also looking to grow in both national and international markets.

Glenrothes-based Creo Engineering plans to develop its own product range with its £40,000 investment from BLS.