What is the Scottish Growth Scheme?
The Scottish Growth Scheme is a package of financial support of up to £500 million for Scottish businesses. It’s backed by the Scottish Government and aims to help businesses grow. This funding will be provided through a series of initiatives which businesses can access for investment. Small and Medium Enterprises (SMEs) are a vital part of the Scottish economy and contribute significantly to economic growth, so ensuring they have access to the finance they need to invest and grow is an important priority for the Scottish Government
This is being delivered through a number of initiatives. In 2021 this is delivered by a portfolio of five funds offering microfinance, loan and equity support to businesses:
- DSL Business Finance (microfinance) provides loans of up to £25,000 to start-ups and small businesses
- Business Loans Scotland (loans) provides loans in the range £25,000 to £250,000 for SMEs with growth ambitions
- UMi Scotland (loans) provides loans in the range £25,000 to £250,000 for SMEs with growth ambitions
- Foresight (equity) provides equity investment up to £2 million within a deal ceiling of £10 million for SMEs with high growth potential
- Techstart (equity) provides equity investment up to £2 million within a deal ceiling of £10 million for high growth start-ups and young, innovative SMEs
Small and Medium Enterprises (SMEs) in Scotland can apply for:
- debt or loan finance of up to £250,000
- equity finance of up to £2 million
This funding comes from the Scottish Government.
Why Apply?
The Scottish Growth Scheme funding options can help you establish or grow your business in a number of ways, for example by:
· Providing funding to get your business started
· Funding innovation and expansion projects
· Purchasing new machinery or equipment
· Leasing new commercial premises
· Expanding into overseas markets
