TEXTILES maker Kalopsia Collective, a social enterprise founded in 2012 by artists and weavers, aims to raise £100,000 to expand production.
The collective moved from Leith to a factory in Dumferline, where it can produce textiles in small batches.
Kalopsia focuses on sustainability and reducing waste in the textiles industry.
Scottish Communities Finance, a community benefit society launched in 2017 and regulated by the Financial Conduct Authority, will issue bonds and then lend the money to the collective.
The six-year bonds are going on sale for £50 each, and will pay the equivalent of 2.5% annual interest at the end of the period.
Bond holders will also receive a range of gifts made by the producers that use Kalopsia’s factory, including purses and bags.
Adam Robertson, who founded Kalopsia Collective with Nina Falk, said: “We are delighted to start 2023 with both the launch of our textile production bonds and a visit from The Princess Royal.
“We decided to use bonds to raise finance to grow Kalopsia Collective as the model is well suited to enterprises like ours with social and ethical aims.
“Whilst growing the UK’s textile manufacturing infrastructure, we are committed to reducing textile waste, creating sustainable local employment opportunities and ensuring that the circular economy is embedded in everything we do.”
Pauline Hinchion, managing director of Scottish Communities Finance, added: “Our goal is to match socially aware investors – those who are looking for both a financial return and a social return – with social and community enterprises looking for ‘patient capital’.
“Community bonds create a partnership between investor and investee, providing a long-term investment at attractive rates with shared values at the heart of the proposition.”
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