Following Maven’s selection as the sole fund manager of the Scottish Loan Fund in February, the initiative has received a further boost with a significant level of capital being committed from the private sector.
First Minister Alex Salmond has announced that Clydesdale Bank, Lloyds, RBS and Santander, alongside other private investors, have pledged additional funds totalling almost £40 million. This means over £94 million is now available for Scottish SMEs to borrow after an initial £55 million investment from the public sector.