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