Social entrepreneurs to benefit with up to £10,000 from scaling fund

Responsible finance provider Social Investment Scotland (SIS) is offering social entrepreneurs up to £10,000 in grant funding to support their scale-up plans.

SIS chief executive Alastair Davis praised the scale-up challenge fund. Picture: Greg Macvean

The lender’s Growth & Replication funding challenge aims to support Scottish charities and companies looking to increase their social impact.

It includes a range of assistance from legal and accountancy support to feasibility and impact planning, as well as the opportunity to be fast-tracked through the investment process, with a view to helping participants secure required loan financing.

The programme is open to “ambitious” third sector organisations which require £100,000 to £1,600,000 of social investment to scale their operations and impact.

SIS chief executive Alastair Davis said: “Whether it’s buying a property, renovating a building or replicating your enterprise in a new location, this challenge may be the perfect solution.”

Previous organisations who have taken part in the challenge include the community-led Glenurquhart Care Project, which secured a £440,000 loan from SIS.

Project manager Susan Clark said: “Working with SIS has enhanced the level of support and care services we provide within our local community.

"As a result, we secured funding to deliver 12 amenity homes which has transformed the lives of many elderly people in Glenurquhart – ensuring they don’t need to leave the community they know and love to receive the care that they need.”