The latest annual investment figures from SIS show that active loans and investments during 2022/21 increased by £3m from £38m in 2021/2020, a record amount for SIS during its 21-year history.

The record investment figures were achieved during the second year of its ten year Building an Impact Economy Strategy, supporting and encouraging businesses of all kinds to make a real, measurable, and sustainable impact on people’s lives.

Lending volumes include £12.4m in loan and equity funds drawn by social enterprises in Scotland, and £6.8m loaned to responsible lenders across the UK who, in turn, 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 £9.15m new investments for Scotland’s social enterprises during the year.

The activities of SIS, either directly or indirectly, benefited 4.3 million people, more than double last year’s total of 1.9 million people, with those benefits felt by communities in all 32 local authorities in 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.

As well as providing funding to help support the growth of an impact economy, SIS’s market building activity provided projects, programmes, and support to help communities and social enterprises develop capacity, confidence and resilience. Activity included the delivery of 74 workshops and webinars, and the design and management of 11 support initiatives.

Commenting on the Social Impact Report, Social Investment Scotland’s chairman, Ken Barclay, said: “Over the last 21 years, 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.

“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.”

Jambo! Radio is the only dedicated radio station for the people of African and Caribbean heritage in Scotland. Its mission is to use broadcast media and its tools to build and develop the digital and employability skills, capacity, and confidence of people of African and Caribbean heritage in Scotland. Jambo! Radio participated in our partnership programme with the Council of Ethnic Minority Voluntary Sector Organisations (CEMVO Scotland) & CEMVO Enterprises CIC. Working together with social entrepreneurs, CEMVO and SIS co-designed a social investment programme specifically for social enterprises led by, and reaching, people from across Scotland’s ethnically diverse communities. Workshops introduced the concept of social investment loans and the opportunity to apply for a grant of

Jambo! Radio successfully applied for a blended grant and loan funding package of £5000 which help them pay for a 2 year annual subscription to Digital Audio Broadcasting (DAB) digital radio.

DAB is an innovative technology which provides a low-cost way for local commercial, community, and specialist music services to take to the digital airwaves. The switch to digital has helped the station reach more audiences, enabling them to attract more advertisers and revenue. The funding also enabled Jambo! Radio to deliver more employability and digital skills training to underrepresented groups.

The Tomintoul & Glenlivet Development Trust (TGDT) was established in May 2012 with the aim of addressing economic downturn in the local economy by developing, inspiring, and embracing a sustainable and vibrant future for the Tomintoul and Glenlivet area.

TGDT is focused on providing opportunities for employment, enterprise, and cultural regeneration through the delivery of development projects and ongoing initiatives - with emphasis on the importance of involving the community in the decision-making process.

In October 2021, TGDT received a tailored financial package as part of the SIS Growth Challenge. The SIS Growth Challenge was created for social enterprises with growth aspirations which required funding of £100,000 or more. TGDT received funding of £507,000, including a £157,250 grant. This funding has been used to support the development of 12 new homes in the Tomintoul area - a targeted approach to improving the local housing market.

The lack of affordable housing was highlighted by 82% of those asked in the community as a high or very high priority area to address. These results also highlighted some of the issues surrounding short-term holiday lets preventing a healthy local housing market, and the resulting lack of affordable homes.