Social Investment Scotland (SIS) has revealed that its active loans and investments reached more than £41 million over the past year.

The latest annual figures from the responsible finance provider highlight an increase of £3m from £38m in 2021/2020.

According to SIS, the active loans and investments were spread across 201 social enterprises, community organisations and impact-led businesses.

The record figures were achieved during the second year of its ten-year Building an Impact Economy Strategy, which aims to support and encourage businesses to make a “real, measurable, and sustainable” impact on people’s lives.

Social Investment Scotland

SIS figures show that lending volumes include £12.4 million in loan and equity funds drawn by social enterprises in Scotland.

Around £6.8 million was also loaned to responsible lenders across the UK that offer finance to enterprises and individuals who are unable to secure them from mainstream financial lenders.

£1.8m in equity funding was drawn by impact-led businesses through impact investor SIS Ventures. SIS also approved £9.15 million new investments for Scotland’s social enterprises during the year.

SIS activities also benefited 4.3 million people, either directly or indirectly. This amounts to more than double of last year’s total of 1.9 million, the organisation revealed.

Similarly, the benefits of SIS activities were also felt by communities in 32 local authorities across Scotland.

One-third (33%) of loan customers secured loans of under £50,000 underlining SIS’s support for smaller social enterprises, charities and community organisations.

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Jambo! Radio was one of a number of community organisations supported by SIS during the last year. The radio station is the only dedicated channel for people of African and Caribbean heritage in Scotland.

Working alongside the Council of Ethnic Minority Voluntary Sector Organisations (CEMVO), SIS helped support the station with a £5,000 grant.

This enabled the organisation to pay for a 2-year annual subscription to DAB radio and deliver digital skills training to underrepresented groups.

SIS chairman Ken Barclay said the latest Social Impact Report highlights the vital work the organisation carries out in communities across the country.

He said: “SIS has grown to a position where our customers, and those we work with, touch the lives of at least 4.3 million people each year.

“It is this social impact which inspires and drives our team to achieve great outcomes with both our long-term and new partners in ways that make a real difference to the lives of the people our customers serve.”

Barclay added: “We thank all of our partners for their commitment and support, alongside our customers and peer organisations. We will continue to work to build the kind of world where positive impact for people and the planet comes first.”

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