Help is on hand for new and growing businesses

Jun 12 2008 by Andrew McGilvray, Hamilton Advertiser

NEW and growing businesses in Lanarkshire which are finding it difficult to access finance are to receive additional help from UK Steel Enterprises (UKSE).

UKSE’s main objective is to support businesses in steel areas with tailored finance packages and managed business premises. Since 1975 they have provided over £20million in funding to 1300 Scottish businesses.

Until now, UKSE was only able to invest up to £400,000 in company finance deals, but this has increased to £750,000 and they have widened their geographical area.

Match funding from the Scottish Co-Investment Fund (SCF), means that companies can be considered for up to £1.5million in funding via UKSE.

Anne Clyde, area manager of UKSE, said: “Over the course of the past 30 years we have supported business start-ups, expansions and management buy-outs, but in recent years we’ve found that we’ve been approached to fund larger and more complex investment deals.”