SPRUCE provides affordable, flexible finance as a co-investor alongside public and private sector sponsors developing revenue generating projects. Typically, projects will address market failure, will demonstrate a strong regeneration or low carbon rationale, and will generate direct employment benefits to local communities across Scotland.
Funding is provided in the form of competitively priced senior loans, mezzanine loans and equity. Funding can be provided to public, private or joint venture entities. SPRUCE is not able to provide support in the form of grants.
SPRUCE has a defined Investment Policy which sets the parameters for the sectors and projects that can be supported through the deployment of the fund’s capital. The fund completed the initial investment of all the European Regional Development Fund (ERDF) monies in 2015, and has now entered its Recycling Period. In the period to 2021 SPRUCE can support a wide range of projects with this recycled capital.
Projects could include the development or refurbishment of employment space, the conversion or adaptation of industrial sites, and the conversion or adaptation of business centres or employment and training facilities.
Where SPRUCE invests in projects involving the development, construction or refurbishment of business space, the fund seeks to ensure that the space will be occupied both in the short and longer term.
Projects can include social infrastructure projects which form part of larger integrated development proposals, as well as energy efficiency retrofit and renewable energy generation.
Financial support from SPRUCE is provided in the form of facilities to be repaid within an agreed timescale.
For queries on SPRUCE or to discuss potential projects, please contact email@example.com
Case studies of SPRUCE's Urban Development projects can be found here.
Case studies of SPRUCE's Sustainable Energy Projects can be viewed here.