WHAT IS THE NORTHERN POWERHOUSE INVESTMENT FUND?
The Northern Powerhouse Investment Fund (NPIF) provides commercially focussed finance through Microfinance, Debt and Equity Finance funds.
The £400m Northern Powerhouse Investment Fund is financed by the European Regional Development Fund, the British Business Bank, the European Investment Bank and the United Kingdom government and is a collaboration between the British Business Bank and ten Local Enterprise Partnerships.
NPIF provides over £400m of investment to boost small and medium business (SME) growth in the North of England.
If your business is located in the North West, Yorkshire, the Humber or Tees Valley, you can apply for NPIF funding from one of NPIF’s appointed Fund Managers. To make an enquiry, select the amount of finance required, the type of funding (Microfinance, Debt Finance or Equity Finance) and your location to show the relevant Fund Managers who could help you. Enquiries should be directed to the relevant Fund Manager. NPIF is not able to provide investment or other advice.
Small business loans from £25,000 – £100,000
Whether you are an entrepreneur wishing to start your own business, an early stage or more established SME looking to grow you may find it difficult obtaining the finance you need.
Microfinance can be used to fill the funding gap for growth and development projects. Microfinance is available for a wide range of purposes including filling gaps in working capital, funding expansion projects, leasing commercial premises and asset acquisitions.
Business loans from £100,000 – £750,000
As SMEs grow, larger amounts of finance can be needed to move them to the next level. Funding might be for hiring staff, purchasing, machinery, moving premises or even as working capital to finance a big order.
Analysis has shown that this finance can be difficult for firms in the North of England to access but that there is a strong level of latent demand.
NPIF’s Debt finance option is designed for SMEs that can demonstrate growth potential.
Equity finance from £50,000 – £2,000,000
Equity finance is widely accepted as an important ingredient for innovative and fast growth businesses at all stages.
While the number and value of equity deals across the UK have grown in recent years there is a large disparity between the North of England and London & the South East. Northern Powerhouse Investment Fund (NPIF) has a particular interest in supporting equity investments and helping to build a vibrant and sustainable venture capital community in the North.
An equity based investment could be right for you if you are looking to grow at a rate that cannot be supported through borrowing, which will tend to be linked to the ability to service debt from existing cash flows. This can apply at any stage of a company’s growth cycle from start up to scale up, providing ambitious companies with the financial resources they need to fulfil their untapped potential.