Funding boost for SMEs

Fife businesses are set to benefit from a share of a new £5 million investment fund designed to support the small to medium sized enterprise sector.

The East of Scotland Investment Fund (ESIF) succeeds the former Fife

Investment Fund and is backed by £2 million from the European Regional

Development Fund and a £3 million investment through the East of Scotland

local authority partnership.

Loans of up to £50,000 will be made available to SMEs that have viable business plans and can satisfy the investment criteria set out within

the terms of ESIF.

Fife Council has taken a leading role in supporting the establishment of the

fund and Leader of the Administration, Peter Grant, believes this sends out

positive messages to Fife’s business community and could provide a welcome

jobs boost for the region.

Welcoming the new fund, Councillor Grant said, “This is excellent news

for Fife and for small to mediumsized enterprises across the east of

Scotland.

The ESIF will make a real and measurable difference to businesses by

helping to ensure that those who need financial assistance have access to the

fi nance and the support that they need to operate, innovate and prosper.”

To apply for support from the East of Scotland Investment Fund SME’s should

contact Business Gateway in the first instance.

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Permalink: http://www.fifebusinessmatters.co.uk/articles/404564-funding-boost-for-smes.html

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