Scottish Investment Fund nears 10 million mark

Progress on delivering the Scottish Investment Fund continues to be buoyant with just under £10m now approved. The end of year 2 target approval figure of £14m is on track and demand is high with a further £35m of potential investment currently being assessed.

Investments include a wide range of organisations and recent investment approvals include HomeAid Caithness and Sutherland, Furniture Project (Stranraer) Ltd, Kibble Education and Care Centre, Cornerstone Community Care Ltd, Speyside Trust, Recycle Fife, Bethany Christian Trust, The Wasps Trust and Children 1st. This is in addition to investments now drawn including Momentum, Comrie Development Trust, Re-Union Canal Boats, Wise Group, Calman Trust, Out of the Blue and Spartans Community Football Academy.

Over at the core SIS loan fund we understand that activity is similarly high with Alastair Davis, Investment Director forecasting 52% year on year growth in loans drawn by the end of March 2010.