Deals round-up

Grants for credit unions; Ri letting; life sciences record


Scottish credit unions have been awarded £288,500 worth of grants by Lloyds Banking Group through its Credit Union Development Fund to invest in communities across the country.

The credit unions offer savings accounts and affordable loans to more than 42,000 members across Scotland.

Established in 2014, the Lloyds Credit Union Development Fund is run in partnership with the Credit Union Foundation.  Over the past five years the Fund has awarded 18 Scottish credit unions with £887,420 to support members across the country.

Seven credit unions have benefitted from the recent round of funding. They are:

  • £50,000 to Stirling Credit Union in Stirling
  • £20,000 to Dalmuir in West Dunbartonshire
  • £18,500 to Motherwell & District in North Lanarkshire
  • £40,000 to 1st Alliance in Ayrshire
  • £20,000 to Highland Communities Credit Union
  • £40,000 to Pioneer Mutual in Glasgow
  • £100,000 The Lanarkshire Credit Union in Lanarkshire.

Business Park letting

Riverside Inverclyde (Ri), the organisation delivering the economic redevelopment of Inverclyde, has let a 4,500 sq ft of space at Kelburn Business Park in Port Glasgow to Stewart & Shields, a long-established Helensburgh-based construction company,

The units have been leased for five years and will comprise offices and storage facilities for the company’s plant and equipment.

Family-owned Stewart & Shields, which is run by the founder’s grandsons, Richard and Mark Shields, provides a building service for private and public-sector clients.

Stewart & Shields has delivered projects for Ri previously, having been appointed in October 2017 to complete further fit-out works at Kelburn Business Park totalling 17,394 square feet which, in turn, enabled its directors to see the high calibre of space available and move to secure the premises.

Life science firms secure record equity investment

Scotland’s life sciences companies raised a record £85 million of equity investment during the past year, including a surge in international venture capital support, according to new figures released by Life Sciences Scotland.

The landmark figure represents a 27% rise on the £67m investment during the previous 12 months

Companies that have secured funding in the past year include AdoRx, BioFilm, Calcivis, Current (formerly Snap40), DYSIS Medical, Exscientia, Invizius, ScotBio and Ubiquigent.


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