Scotland jobs to gain from new £50m loan fund

Scotland’s growth and exporting businesses are to benefit from a new £50 million loan facility.

Backed by £20 million of European Regional Development Fund resources and £30 million from the Scottish Government and Scottish Enterprise, this new loan fund will be delivered by the new Scottish Investment Bank (SIB).

According to First Minister Alex Salmond, this initiative is part of the Scottish Government’s decision to act ‘decisively' to safeguard and create jobs in Scotland.

"This additional £50 million funding will enable the new Scottish Investment Bank to develop a loan facility for Scotland's growth and exporting businesses.

"These are just the type of companies which have been putting their business development plans on hold while struggling to secure the necessary finance. Yet they are the companies that will offer the greatest contribution to Scotland's economic recovery and growth.

"This £50 million sends another clear message that we are prepared to put our money where our mouth is to support the Scottish economy. And we are also sending a clear message that we want Scotland's banks and financial institutions to do the same."