The British Business Bank has launched a £40m Cornwall & Isles of Scilly Investment Fund (CIOSIF), aimed at boosting the local economy by providing debt and equity finance to help growing small businesses across the region.
The fund has been established in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP), the European Regional Development Fund (ERDF) and UK Government to provide local businesses with more funding options to help them grow and create jobs.
CIOSIF has been designed following input from local business groups, funders, business advisers and the LEP and will provide debt and equity finance from £25,000 to £2 million. It is expected to unlock a further £40 million of private investment.
SWIG Finance successfully tendered in a collaborative bid led by FSE Fund Managers to deliver CIOSIF loans of £25,000 to £250,000 which will see FSE’s new Cornwall team co-locate with SWIG at our offices in Truro. FSE are managing the larger debt and equity funds. For further information including how to apply, visit WWW.CIOSIF.CO.UK