Social lender SIS issues funding challenge

Social Investment Scotland, the lender to the third sector, has launched a funding challenge to help organisations that are looking to grow or replicate their business in year ahead.

SIS chief executive Alastair Davis (left) and chairman Nick Kuenssberg. Picture: Contributed

The “Growth and Replication Challenge” is being billed as a competitive opportunity open to charities and social enterprises across Scotland that have developed strategies for growth and replication.

SIS said examples could be a community sports club which is looking to grow its services and capabilities or a social enterprise food and drink business aiming to expand its offering in a new area.

The initiative will provide “bespoke business support” from SIS, alongside tailored finance, to turn those plans into reality.

Successful applicants will receive professional business support worth up to £10,000 – helping to address issues including social impact, governance, business planning, sales and marketing as well as financial controls.

The challenge also offers tailored finance packages and successful applicants could receive between £100,000 and £1 million of investment.

Alastair Davis, SIS chief executive, said: “We are delighted to launch the second round of our Growth and Replication Challenge.

“We know there are hundreds of talented organisations across the country with big ideas and the right people to deliver them, but they just need advice and finance to bring these plans to fruition. That’s where the Growth and Replication Challenge can help.”