The Scottish Loan Fund (SLF) provides mezzanine loans ranging from £250,000 to £5 million to qualifying Scottish businesses on a wholly commercial basis. The SLF is focused on established businesses that have growth potential or are engaged in exporting outwith Scotland.
The SLF will consider businesses that meet the following criteria:
- An established business with an operating base in Scotland
- Sustainable operating profits and positive cash generation
- Annual turnover of at least £1 million in the preceding 12 months of trading
- Are ideally operating in a growth or export market
- Do not operate in a restricted sector
- Meet the The European Commission's definition of an SME (fewer than 250 employees, an annual turnover of no more than €50 million or an annual balance sheet net asset value below €43 million)
The Scottish Investment Bank has provided £55 million of cornerstone funding to the SLF, which is part financed by the Scottish Government, Highlands and Islands Enterprise and the European Regional Development Fund (ERDF). In addition £58 million of private sector investment has been generated, giving a cumulative fund value of £113 million. Maven Capital Partners has been selected to manage the SLF.
To find out more and to apply, visit the Maven website. To speak directly to a member of Maven's SLF Investment Team, call 0141 206 0121 or email slfenquiries@mavencp.com
Quarterly update
Since the launch of the SLF until 31 March 2013, Maven has completed ten deals totaling £18 million across Ayrshire, Glasgow, Lanarkshire and Aberdeen.
Since the previous quarter:
- Two companies have received investment totaling £2.2 million
- One further deal has entered the due diligence process
- One further offer has been issued