Alternative finance provider South West Investment Group (SWIG) has appointed two non-executive directors to the board of its fund-holding arm as it looks to raise its profile in the West of England.
Malachy McReynolds and Graham Miller join the existing directors at the group which since 1996 has invested £15m in to more than 1,500 small and medium-sized businesses and start-ups across the region. Much of its focus has traditionally been in Devon and Cornwall but it is now looking for more investment opportunities in the area from Swindon to Bristol. 
Mr McReynolds, pictured, was previously managing director of Bristol-based chocolate manufacturer Elizabeth Shaw for more than 12 years. He now chairs not-for-profit home improvement agency West of England Care and Repair as well as being a member of the West of England Local Enterprise Partnership (LEP) board.
Graham Miller is a director of Bath-based IT services group IPL and chairman of Sutton Harbour Holdings the Plymouth-based property and leisure group. He brings extensive experience in private equity and industry to the role.
SWIG chairman David Beaumont, who is also South West area director of Lloyds Bank, said: “Both Malachy and Graham have a wealth of knowledge and experience and we very much look forward to working alongside them as we continue to develop the portfolio of funds which through our fund managers provides complementary finance to businesses across the South West.
“As well as enhancing the board’s expertise, we see the appointment of our non-executive directors as a great opportunity to work more closely with local authorities, LEPs and private sector organisations in the upper end of the South West region.”
SWIG Capital offers start-up loans with free business advice and mentoring, loans for new and existing businesses unable to access sufficient finance from the banks, and for businesses with viable plans for growth unable to secure all the finance needed to put plans into practice. Finance can take the form of loans, equity or mezzanine products.
It does not compete with banks but works closely with them to provide clients with the support they need for the success of their business.
SWIG Capital is responsible for holding the capital of the funds, procuring fund managers and monitoring and reporting on the performance of the funds to the SWIG group board and to the original funders including local authorities, the British Business Bank, central Government, the European Commission and private investors.
