Over £ 7million investment from Business Loans Scotland


Business Loans Scotland (BLS) is one of the fund managers responsible for investing Scottish Government funds in new and growing Scottish SMEs. Led by a consortium of Scottish local authorities, the BLS offers loans ranging from £ 25,000 to £ 100,000 to new and growing businesses across Scotland. By giving businesses access to an invaluable new source of financing, these loans can be used flexibly for several purposes, including working capital, purchasing factories or equipment, investing in commercial real estate. and expansion into new markets. Fully funded by the Scottish Growth Scheme and the European Regional Development Fund (ERDF), Business Loans Scotland aims to give businesses access to finance that will support their growth and expansion plans.

Over the past two years, BLS has invested over £ 7million in businesses across the country. The fund is now fully committed, which is ahead of schedule. This is fantastic news for companies that have successfully applied for the Start-up and Growth or Working Capital Loans, these funds have helped start, grow and stabilize these key businesses during the ongoing COVID pandemic and have generated and saved jobs for the coming year. .

BLS is hoping for an additional round of funding from the Scottish Government and while this process is ongoing they are able to continue to lend to SMEs in the short term by reinvesting over £ 1million of the achievements repaid to the Fund to date.

With the fund effectively fully committed, Andrew Dickson, BLS fund manager, said:

“It is great news that BLS was able to invest the full value of the Fund in around 100 Scottish SMEs and well ahead of the original schedule. While the coronavirus pandemic has created many challenges for businesses, it has also created opportunities for businesses to adapt and think differently about how they source raw materials, how they supply, maintain and think differently. sell to their customers. I am confident that BLS will secure additional funds to continue lending to Scottish businesses and to continue the excellent work of the Fund and its staff.

Some of the companies that have been aided by this funding round have praised Business Loans Scotland’s efforts to help them achieve their ambitions:

Secureshield has received £ 250,000 in funding to help secure and maintain Scottish jobs. Regarding the BLS loans to John Hunter, the director of Secureshield said:

“This first round of funding from Business Loans Scotland has been crucial in ensuring that we have met our targets for early stabilization. The BLS was realistic and supported the first tranche of the loan so much that it became the natural fit for the second round of funding we knew we needed. There is no doubt that without BLS support we would have had a greater challenge to protect the jobs that were at risk, facilitate stabilization and allow us to make our first acquisition. The prepayment of the two loans was easily managed between the two parties and we are delighted that BLS remains in contact with us to monitor our progress.

H&R Gray Haulage has received a loan of £ 250,000 to enable the creation of a modern drive-thru delivery center, to meet delivery demands throughout the COVID pandemic. Speaking of the service provided, Robin Gray of H&R Gray said:

“We dealt with Business Loans Scotland about 5 years ago on a smaller project, so we didn’t hesitate to contact them again for this project. The whole process is quick and very easy to perform. It’s a much simpler and faster process than going to a High Street Bank, from application to approval. I would not hesitate to recommend Business Loans Scotland to any business looking to grow and move their business forward.

Ivanhoe Caledonian recently received a COVID working capital loan of £ 100,000 to help deal with the negative impact of the ongoing COVID pandemic. Speaking of the loan granted, Ivanhoe Caledonian manager Keith Cockburn said:

“Business Loans Scotland has been extremely helpful and understood what we are looking to do with the business in the future. They provided us with the additional funds we needed to deal with the immediate impact of Covid-19 on the business, which allowed us to continue our plans for growth and diversification in the packaging market. We would definitely recommend BLS and look to reuse them ourselves if necessary for future growth.


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