BE Group Debt Finance Scotland to manage new £12m Scottish Growth Scheme

Nicki Clark

The fund, to be managed by BE Group Debt Finance Scotland, which is part of the BE Group, has been launched with the aim of providing investment for more than 200 Scottish small and medium-sized enterprises (SMES) over the next three years.

The fund will provide loan finance for SMES in the £25,000 to £100,000 range and will see investments in more than 200 businesses within the next three years.

Loans can be used for a wide range of purposes including capital investment, exports, innovation and product development.

Its investment centre has managed more than £174m, leveraged in excess of £600m of investment from other sources and helped create some 39,000 jobs.

Nicki Clark, chief executive of BE Group, said: “We are really excited about helping businesses across Scotland succeed and grow by having access to the right kind of finance.

“The fund also enables us to build our team in Scotland and make a positive economic contribution in our own right as well as via the services we provide.

“Our expertise in delivering business information, advice and funding to businesses across the UK has given us a unique and practical insight into the needs of SMES which we have taken the time to reflect in how the funds are accessed, priced and managed.”

Tom Brock, fund director at BE Group Debt Finance Scotland, added: “Many ambitious SMES struggle to access debt funding in the £25k to £100k range due to a lack of trading history and/or collateral. Our process will be streamlined, with the aim of delivering funding for eligible Scottish SMES within 20 days.”