Businesses will be able to access more than £100 million to help them expand and unlock investment through the next phase of the Scottish Growth Scheme.
Small and Medium Sized Enterprises (SMEs) across Scotland will have the chance to apply for financial support, including micro-finance loans of up to £25,000, debt or loan finance of up to £100,000 and equity investment deals of up to £2 million.
As part of the initiative, Scottish Enterprise has also introduced a loans scheme offering loans from £250,000 to £2 million, or up to £5 million in exceptional circumstances, for growth-focused SMEs.
Announcing the funding, Economy Secretary, Derek Mackay, said:
“This next phase of the Scottish Growth Scheme will unlock substantial investment for the most ambitious new and existing businesses, helping them scale-up for the future.
“Amid the uncertainty of Brexit, it’s important that the wider business community remains confident that access to finance should not hinder their ambition or growth. This direct investment will boost the economy and give even more companies access to vital capital.”
For more information about the fund, SMEs should contact Scottish Enterprise.