DSL backs growing SMEs with record loans
Stuart Yuill: rewarding
Not-for-profit lender DSL Business Finance reported a record year in 2019, providing £4.5 million to small and medium sized businesses and social enterprises in Scotland, against £3.1m in 2018.
The Glasgow-headquartered alternative finance provider offers loans of up to £50,000 to organisations that would not generally be able to access traditional sources of funding.
DSL has increased its loan book significantly since 2015 when it provided £917,502.
Between January and December 2019, DSL gave 207 loans to 173 enterprises and the average loan size was £21,616.
DSL loans also led to further injections last year of £1.8m from the private sector and £318,150 from the public sector.
Stuart Yuill, executive director, said: “Despite economic uncertainty, primarily around Brexit, it’s rewarding that we are able to support more small and medium sized enterprises than ever before across Scotland.
“We are already building on the record year we had in 2019 to continue to fund organisations and entrepreneurs that would otherwise struggle to get started or grow. Our funding supports job creation and benefits the wider economy.”