We are delighted to announce that NCM Chief Executive, Kathleen McLeay, is joining the Social Investment Scotland (SIS) board. Kathleen also acts as compliance officer for the group and was previously part of the corporate finance team at Noble & Co. Joining Kathleen on the board and bringing a wealth of experience are, Caroline McLaughlin, Ian Mitchelmore, Samantha Bett. The four new board members will be supporting SIS’s continued growth and ambition to develop Scotland’s impact economy.
Social Investment Scotland was established in 2001 to provide a new finance model for Scotland’s charities and social enterprises. Since then it has invested over £120 million. Loan finance via Social Investment Scotland is available from £10,000 to £1.6m and is aimed at community enterprises and social businesses that might find access to finance from mainstream providers difficult. Social Investment Scotland also helps to manage funds on behalf of third parties with any profits being re-invested into social business development in Scotland.
In 2021/22, SIS supported over 200 social enterprises with £41 million in funding across a wide range of sectors. One third of loan customers secured loans of less than £50,000 underlining SIS’s support for smaller social enterprises, charities, and community organisations
Commenting on the appointments, Ken Barclay, SIS Chair, said, “I would like to welcome the new board members, who together bring a great deal of relevant expertise to our board. The high calibre of the appointments reflects our leading position as a responsible finance provider in Scotland and beyond. All four new members bring a unique range of skills and experience which will be vital in fuelling SIS’s vision to build an impact economy.”