North West Business Funding

Date published: 01 November 2011

The North West Fund provides debt and equity finance from £50,000 to £2 million to small and medium sized businesses based in, or relocating to, the North West of England to start, develop and grow.The Fund will address an identified gap in the lending, venture capital and private equity markets.

The Fund is managed by North West Business Finance Limited, an independent private sector company. It comprises six specific funds, each of which is managed by an experienced Fund Manager. These Fund Managers have been appointed to manage the discrete funds. They will deploy the capital in a non-competitive and collaborative manner to provide comprehensive and tailored support to facilitate the long-term growth and prosperity of small and medium sized enterprises across the region.

Investment and Realisation

The North West Fund's initial investment period extends until December 2015, with a subsequent realisation period through to December 2022.

By 2022 The North West Fund is expected to have:

Supported 800 businesses

Created or safeguarded 14,000 jobs; and

Added £300 million to the North West's gross value added.

The North West Fund is financed by the European Regional Development Fund and the European Investment Bank (EIB) under the European Commission's Joint European Resources for Micro to Medium Enterprises Initiative - otherwise known as the JEREMIE programme.