SWIG Finance has launched its Impact Report for 2023/24, revealing the broader social benefits of its lending activities.
As a Community Development Finance Institution (CDFI), SWIG’s mission is to ensure that all small businesses have access to financial backing and support.
2023/24 was a strong year of lending activity for SWIG, with £14m delivered in more than 500 loans to a wide range of local businesses.
The report revealed that 21% of the firm’s lending went into deprived areas, 43% to women-led businesses and 12% to ethnic minority-led businesses.
From offices in Bristol, Exeter, Poole and Truro, SWIG Finance provides a range of financial products tailored to meet the needs of new and growing businesses.
The social impact of SWIG Finance’s lending activities nearly doubled in recent years, with 2023/24 generating a social impact value of £71.5m.
John Peters, managing director at SWIG, said: “At SWIG Finance, we strive to maintain a focus on a triple bottom-line, recognising that Planet, People and Profit together build a stronger future.
“We are proud of our impact measures and seek to maintain focus on responsible lending to viable small businesses.”
