Tags: ESIF, Finance, Growth, Investment, Northern Powerhouse

The Northern Powerhouse Investment Fund (NPIF) has over £400m of funding available for SMEs in the NPIF area.  It is providing micro-finance, debt and equity investment aimed at creating sustainable economic activity through supporting new and growing businesses.  Provision is as follows:

Microfinance

  • For start up or existing business
  • Loans of £25k – £100k
  • Example deals include:
    • Working capital
    • Funding expansion projects
    • Financing commercial premises
    • Asset acquisitions

Debt Finance

  • For businesses that can demonstrate growth potential
  • Business loans from £100,000 – £750,000
  • Example deals include:
    • Working capital
    • Hire a new team
    • Purchase new machinery
    • Move to larger commercial premises

Equity Finance

  • Early stage or late stage equity funding
  • For businesses with ambitious plans or large start-ups with high growth potential
  • From £50,000 – £2million
  • Example deals include:
    • Growth capital
    • Working capital
    • Capital Expenditure
    • Relocation

The fund managers appointed to manage the Northern Powerhouse Investment Fund in the Humber are are:

  • Microfinance: Finance for Enterprise & Business Enterprise Finance
  • Business Loans: Enterprise Ventures
  • Equity Finance: Enterprise Ventures

Project Dates

February 28, 2017 - February 28, 2022

Project Sponsor

British Business Bank

Location

Humberwide

Funding

£5.7m of the Humber ESIF Programme has been invested in the Northern Powerhouse Investment fund with further match funding secured through other LEP areas and the European Investment Bank.

Approval Status

Business case approved

Delivery Status

Started

View project homepage

Last updated: April 13, 2017