Liquidity Support Fund for SME Housebuilders: FOI release

Information requested

1. How much of the loans awarded by the Liquidity Support Fund for SME Housebuilders has been repaid by i) Ladybank Homes Limited and ii) S. Ewing and Sons Ltd?

2. What accounts were reviewed by the Liquidity Support Fund for SME Housebuilders as part of its awards process?

3. Did the Scottish Government seek their own valuation of any assets used as security for the loans awarded by the Liquidity Support Fund for SME housebuilders? If so, why did they allow the other property secured against the loan for Kapital Residential Ltd to be sold? If not, why not?

Response

The answer to your questions are:

1. Ladybank Homes Limited and S Ewing and Sons Ltd have not repaid any monies.

2. The previous two year’s Annual Accounts were reviewed as part of the SME Liquidity Fund for Housebuilders awards process.

3. The SME Liquidity Fund was brought in to provide urgent support to small and medium sized housebuilders during the pandemic and applications were turned around quickly. Security was not a prerequisite to obtaining funding support. As part of the application process, where security was available, applicants were asked to provide copies of available valuations which were then reviewed by Scottish Government officials. The sale of the property released funds towards repayment of the loan.

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