SWIG Finance

SWIG Finance launches fund to support SMEs in the South West

SWIG Finance has launched a fund worth £1.5m to support SMEs in the South West.

The fund – which was launched using the Enterprise Finance Guarantee scheme (EFG) and Community Investment Tax Relief (CITR), with additional investment from Triodos Bank – will support around 30 SMEs in the region that struggle to raise finance from traditional lenders.

“The launch of this fund is really exciting news as it not only provides us with more vital capital alongside our own to lend to our customers, but it also offers SWIG Finance a blue print for developing similar funds of our own in the future,” said John Peters, managing director at SWIG Finance.

“Triodos [has] been hugely supportive in helping us get this off the ground and we are looking forward to a positive and productive relationship for years to come.”

Matt Boggan, relationship manager at Triodos Bank, added: “This is an exciting opportunity for the bank to use its depositor’s money to address one of the key challenges that small businesses face, which is the lack of access to loans, and ultimately broaden the scale and reach of its impact in the UK.”

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