The British Business Bank is launching a £150m investment fund for small businesses in Scotland.
In brief:
-This marks the second of six nations and regions investment funds across the UK, totalling £1.6bn
-The fund aims to drive sustainable economic growth in the country, supporting both new and growing businesses across Scotland.
-The new investment fund includes loans ranging from £25,000 to £2m and equity up to £5m to help small and medium-sized businesses, ranging from those just getting started to those looking to scale or “stay ahead”.
What does this mean?
“With this fund for Scottish businesses, we hope to open the doors to new opportunities for a range of smaller firms looking to get started, grow, and develop across different sectors,” British Business Bank CEO Louis Taylor said.
