• Swindon & Wiltshire Support
• Wednesday February 26 2025
• Author Name: Peter Davison

SWIG secures £10 million boost to help micro and small businesses

Business finance lender SWIG Finance has secured £10 million to support micro and small businesses in the South and West of England.

The capital injection has been made by Bristol-based Triodos Bank and Better Society Capital through the Community Investment Enterprise Fund, and will enable SWIG Finance to significantly increase the number of customers it supports.

The funding forms a part of a £72 million investment initiative aimed at supporting micro and small businesses across England and Wales, bolstering local employment opportunities and economic growth.

SWIG Finance provides loans and support to help smaller businesses in the South and West Country to grow.

Lending decisions are based on potential rather than collateral, which means that SWIG Finance can often support businesses when others can’t.

In 2023/24, SWIG Finance lent £14 million to over 500 businesses, helping to create and secure more than 700 jobs and generate £71.5 million in social impact.

John Peters, managing director at SWIG Finance, said: “We are delighted to join in the delivery of such a successful and important fund.

“SWIG Finance will help to expand its geographical reach into the South and West Country and support many more underserved smaller businesses.”

John Sharpe, senior relationship manager at Triodos Bank UK, said: “This lending builds on our ongoing partnership with SWIG and other CDFIs, with a shared understanding of the power of finance to unlocking entrepreneurial opportunity, job creation and business and social enterprise growth.

“Through this specialist wholesale lending CDFIs can provide smaller, unsecured loans that we would not always be able to provide through our standard SME lending.

“Given we are headquartered in the South West, we are pleased to be able to support growing businesses in this region to help them fulfil their potential.”

Victoria Crisp, investment director at Better Society Capital, added: “We recognise the role micro and small businesses play in supporting local economies, especially those in underserved areas, creating jobs and improving lives.

“However, we are acutely aware of the challenges they face when trying to access finance.

“We are pleased to see our investment in CIEF reaching local businesses via SWIG finance, helping to support regional development in the South and West Country.”

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