Social Investment Scotland receives £3.5 million from British Business Bank to fund Scottish SMEs

Social Investment Scotland (SIS) has secured £3.5 million from the British Business Bank under the Community ENABLE Funding programme. The funding will be used to provide loans of £25,001 to £125,000 to underserved small businesses, charities and social enterprises across Scotland. A pilot rollout will target local authorities including Glasgow, Argyll and Bute, West Dunbartonshire, North Ayrshire, South Ayrshire, East Ayrshire and Inverclyde.

Alastair Davis, CEO of SIS, said the accreditation brings the Bank’s ambition “closer to home” and will help “create jobs and build resilience in local economies.” Reinald de Monchy, chief banking officer at the British Business Bank, highlighted the programme’s role in expanding community finance across the UK’s nations and regions.