Silver service from SWIG

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2027

A Cornwall-based funding group has celebrated its 25th anniversary with record figures, after lending more than £1.4 million across the south west in the last quarter.

SWIG Finance lent a total of £1,421,428 to 132 companies across the region in July, August and September – the most it has lent in one quarter since the group was set up in 1989.

L-R: David Beaumont, south west area director of SME banking, Lloyds; Richard Coombs, SWIG group chairman; Ben Hughes, CEO of the Community Development Finance Association; John Peters, MD of SWIG; Toby Parkins,  president of the Cornwall Chamber of Commerce
L-R: David Beaumont, Lloyds; Richard Coombs, SWIG group chairman; Ben Hughes, CEO of the Community Development Finance Association; John Peters; Toby Parkins, president of the Cornwall Chamber of Commerce

Funding streams include the Government-backed Start up Loan scheme, Regional Growth Fund and European Regional Development Fund finance for businesses with growth potential and the South West Microcredit Fund.

Businesses to benefit from the funding are a mixture of start-up companies and existing firms looking to invest in future growth.

The record figures were marked at the 25th anniversary celebrations for SWIG Finance, held at the Trelissick Garden near Truro on Friday (Oct 24).

John Peters, MD of SWIG Finance, said: “We are thrilled that SWIG Finance has received record lending in the last quarter.

“Not only does this show an appetite for growth across the south west region, but this also demonstrates the continuing need for alternative finance providers such as SWIG Finance in supporting that business growth.”