Scottish Community Lenders Fund
Over February and March 2021, the Scottish Government announced a £15 million Scottish Community Lenders Fund (SCLF). The fund aimed to support affordable credit providers (Credit Union’s and Community Development Finance Institutions) across Scotland by making a grant available to support with the availability of credit and strengthen the balance sheet of these organisations.
Social Investment Scotland (SIS) delivered this fund through direct invitation to all eligible affordable credit providers. By 31st March 2021, 77 grant awards have been made to 74 Credit Unions and 3 Community Development Finance Institutions (CDFIs) based or working in Scotland. Credit Union grants were awarded on tiered basis (six levels) aligned to total assets of each affordable credit provider. A summary of the tiers and the grantee organisation and their relevant tiers is noted below. Each CDFI received £500k each. The grant fund is now closed.