Business lender secures £10m capital injection

SWIG Finance has secured a capital injection of £10m from Triodos Bank UK and Better Society Capital (BSC) through the second phase of the Community Investment Enterprise Fund (CIEF).

The facility has been made available through Social Investment Scotland and went live this month, enabling SWIG Finance to support more micro and small businesses in the South and West Country.

Small businesses across the region report finding finance a key challenge. Community Development Finance Institutions (CDFIs) like SWIG Finance are designed to support small businesses that may not be able to secure funding from mainstream lenders. The keystone
investment will significantly increase the funds available for lending to underserved businesses.

This funding forms a part of a larger, now £72m investment initiative, aimed at supporting micro and small businesses (MSMEs) across England and Wales, thereby bolstering local employment opportunities and economic growth.

The fund is managed by Social Investment Scotland and deployed via a network of regional CDFIs including SWIG Finance, Finance
For Enterprise, BCRS Business Loans, and Business Enterprise Fund.

Triodos Bank UK’s participation marks a significant commitment to fostering sustainable business practices and regional development, particularly amongst disadvantaged communities.

Within this investment framework, SWIG Finance has secured the £10 million allocation for deployment across the South and West Country.

John Peters, SWIG Finance managing director said, “We are delighted to join in the delivery of such a successful and important fund. SWIG Finance will help to expand its geographical reach into the South and West Country and support many more underserved smaller
businesses.”