South West-based SWIG Finance has reached a landmark £15m in lending backed by Triodos Bank UK to 250 small businesses across the South West.
SWIG Finance is a non-profit company that supports viable South West businesses that can’t secure sufficient funding from a bank. By empowering underserved small businesses to overcome their financial barriers, the organisation is working to create a more balanced financial ecosystem.
Most recently, SWIG Finance supported cyber security business, Cool Waters Cyber Security, with a £50k Triodos-backed loan to help them create a new cyber security apprenticeship scheme in Cornwall.
SWIG Finance reached the milestone within five years of the first loan being made.
John Peters, MD at SWIG Finance, commented:“Triodos Bank have been a fantastic funding partner for us, and the fact that they’re South West- based makes the fit even better. This milestone proves that through investing in SWIG Finance, investors like Triodos can benefit those smaller businesses that would otherwise struggle to access the finance they need to grow, create jobs and benefit their local communities.”
Triodos Bank, whose UK headquarters is in Bristol, is a leading expert in sustainable banking globally.
John Sharpe, senior relationship manager at Triodos Bank UK,added: “We’re proud of our ongoing partnership with SWIG, as we both have a shared understanding of the power of finance to help businesses and communities thrive. Having supported 250 small businesses in the South West through the partnership to date, we look forward to seeing these start-ups and growing businesses continue to fulfil their potential.”
SWIG Finance is one of the Community Development Finance Institutions (CDFIs) that Triodos supports. A CDFI is a non-profit lender that provides debt finance and support to businesses through a relationship-based approach to lending.