£100m for businesses

Businesses across Scotland will be able to access more than £100 million to help them expand, the Scottish Government has announced.

Through the Scottish Growth Scheme, the investment is aimed at helping Small and Medium Enterprises (SMES).

SMES will have the chance to apply for financial support through a variety of appointed fund managers.

Funding options include microfinance loans of up to £25,000, debt or loan finance of up to £100,000 and equity investment in deals of up to £2m.

As part of the initiative, Scottish Enterprise has also introduced a loans scheme in the range from £250,000 to £2m, or up to £5m in exceptional circumstances.