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Scottish SME Debt Fund; Provision of Fund Manager

Scottish Enterprise

This public procurement record has 2 releases in its history.

Award

13 Feb 2017 at 00:00

OJEU - F3 - Contract Award Notice
Tender

16 Nov 2016 at 00:00

OJEU - F2 - Contract Notice
Summary of the contracting process

The procurement process titled "Scottish SME Debt Fund; Provision of Fund Manager" is being conducted by Scottish Enterprise, located at Atrium Court, 50 Waterloo Street, Glasgow. This initiative is aimed at addressing the significant finance gap for Small and Medium Enterprises (SMEs) in Scotland, which is estimated to be between £330 million and £750 million. The procurement method is an open procedure, currently at the active tender stage, with a submission deadline set for 19th December 2016. The contract pertains to the services industry and is expected to support economic growth across Scotland.

This tender presents a substantial opportunity for companies involved in financial services, particularly those specialising in private equity investment management or debt management services. Businesses currently engaging in the provision of financial solutions or expertise related to SME financing would be well-suited to compete for this contract. Additionally, firms that can meet the financial criteria outlined, including a minimum turnover of £5 million per year for the last three years and appropriate insurance levels, are encouraged to apply as they could play a crucial role in supporting the local economy.

How relevant is this notice?

Notice Information

Notice Title

Scottish SME Debt Fund; Provision of Fund Manager

Notice Description

The Scottish Government and Scottish Enterprise have gathered a body of evidence which clearly indicates that demand for finance is not being fully met during the current economic conditions. The Scottish Government published a report in August 2015 entitled 'The Market for SME Finance in Scotland' which estimates that a Scottish lending gap exists in the range of 330,000,000GBP to 750,000,000GBP, with loans up to 1,000,000GBP being considered the most challenging to obtain. Small and Medium Enterprises (SMEs) are essential to the Scottish economy and in delivering Scotland's Economic Strategy and a key factor in helping SMEs to grow, innovate, create jobs and seek opportunities in new markets is access to appropriate finance. Availability and accessibility of finance therefore underpins, and is an integral part of, an integrated approach to sustained company growth. It is therefore our intention to establish a new Scottish SME Debt Fund to help address this market gap.

Lot Information

Lot 1

We have gathered a body of evidence which clearly indicates that demand for finance is not being fully met during the current economic conditions. The Scottish Government report 'The Market for SME Finance in Scotland' which estimates that a Scottish lending gap exists in the range of 330,000,000GBP to 750,000,000GBP, with loans up to 1,000,000GBP being considered the most challenging to obtain. Small and Medium Enterprises (SMEs) are essential to the Scottish economy and in delivering Scotland's Economic Strategy and a key factor in helping SMEs to grow, innovate, create jobs and seek opportunities in new markets is access to appropriate finance. Availability and accessibility of finance therefore underpins, and is an integral part of, an integrated approach to sustained company growth. It is therefore our intention establish a new Scottish SME Debt Fund to help address this market gap. An Open tender process will identify a Fund Manager to provide this service. The contract will not be divided into lots as this would make the execution of the contract excessively technically difficult.. Economic operators may be excluded from this competition if they are in any of the situations referred to in regulation 58 of the Public Contracts (Scotland) regulations 2015.

Renewal: Two consecutive one year extensions may be applied to this contract. This is included in the contract duration of 144 months stated above.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000469507
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=FEB273350
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66100000 - Banking and investment services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
13 Feb 20179 years ago
Submission Deadline
19 Dec 2016Expired
Future Notice Date
Not specified
Award Date
13 Feb 20179 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Unsuccessful
Lots Status
Unsuccessful
Awards Status
Unsuccessful
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Scottish Enterprise
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
GLASGOW
Postcode
G2 6HQ
Postcode Area
Glasgow
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM3 West Central Scotland
Small Region (ITL 3)
TLM32 Glasgow City
Delivery Location
TLM Scotland
Local Authority
Glasgow City
Electoral Ward
Anderston/City/Yorkhill
Westminster Constituency
Glasgow North

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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