£100m for busi­nesses

The Sunday Post (Newcastle) - - NEWS -

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.

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