SOCIAL Investment Scotland (SIS) invested a record £10.9 million in social enterprises, community organisations and mission-driven businesses during the past year, according to its latest Social Impact Report. SIS provides loans for charities and social enterprises that might find it difficult to raise money from mainstream providers. The latest investment figures include £4.36m invested in social enterprises and communities, with the remainder invested in supporting responsible lenders and in mission-driven businesses. The Point and Sandwick Trust, a charity that uses money generated from its windfarm to benefit the local people of the western isles community, received £600,000. During the coronavirus lockdown, SIS provided 800 support interventions for people and organisations from the third sector, approving £2.52m in loan funding through the Third Sector Resilience Fund and supporting 20 of Scotland’s Credit Unions through the Credit Union Resilience Fund.
The National 18th Sept 2020 read more »