Eligibility Checklist

 

THE NORTH WEST FUND IS NOW FULLY INVESTED. PLEASE CONTACT YOUR LOCAL ENTERPRISE PARTNERSHIP FOR FURTHER INFORMATION ABOUT ALTERNATIVE FUNDING SOURCES.

 

Funding Required
Please note that the lower limit for funding is £25,000. If you require less than £25,000 please refer to other sources of funding.

 

Location
To be eligible for the this fund your business needs to be situated in the North West of England.

 

Business Size
The North West Fund is designed to support the region's Small and Medium sized Enterprises (SMEs). Please click for information on the definition of an SME. If you have 250 or more employees you are not eligible. The definition of an SME, as outlined by the European Union is:

  • Up to 249 employees
  • Annual business turnover not exceeding €50m (euros)
  • Balance sheet total not exceeding €43m (euros)

 

Business Plan
To progress an application through one of our Fund Managers you will need to provide an overview of your Business Plan. If you need help with developing a business plan, you may find the resources on the Gov.UK website helpful. Alternatively download our Business Plan Template.

 

Loan Funding
If you require loan only funding of £50,000 to £750,000 you may qualify for support via The North West fund for Loans Plus. Loan funding of £50,000 to £750,000 is available for innovative, viable, Small and Medium sized Enterprises (SMEs) seeking debt finance, specifically those finding difficulty in obtaining debt finance from traditional sources.  Applicants will need to show a clear vision for growth or innovation articulated in their business plan and must demonstrate their ability to service the loan. Repayment terms will typically be from 3 to 5 years.  Business assets may be taken as security, at the Fund Manager's discretion; this may also include personal guarantees

 

Micro Finance
The North West Fund for Micro Loans is a source of debt/quasi debt investment to assist entrepreneurs wishing to start their own business and existing SMEs looking to grow. It's targeted at businesses in the North West that require smaller amounts of finance to achieve their growth plans. The Fund can lend between £25,000 and £50,000 in a single round.



 

Energy & Environmental
If your business is engaged in the Energy & Environmental sector (including nuclear, smart grids, tidal, SSL, offshore wind, biomass, energy management in buildings, water/wastewater, waste and recycling, photovoltaics, alternative fuels and carbon capture and storage) then you may qualify for support via The North West Fund for Energy & Environmental.  This sector growth fund provides a flexible equity package, which can include Mezzanine Finance (loans linked to equity) from £50k to £2m.  This type of funding is particularly helpful to fast growing innovative businesses in the Energy and Environmental sectors which have been unable to attract growth capital from traditional sources.

 

Biomedical
If your business is engaged in the Biomedical sector (including pharmaceuticals (research,, development and manufacture of drugs and  biopharmaceuticals), biotechnology, diagnostics, clinical research organisations, analytical services and sciences and healthcare tehcnologies and medical devices) then you may qualify for support via The North West Fund for Biomedical.  This sector growth fund provides a flexible equity package, which can include Mezzanine Finance (loans linked to equity) from £50k to £1.5m.  This type of funding is particularly helpful to fast growing innovative businesses in the Biomedical sectors which have been unable to attract growth capital from traditional sources.

 

Digital & Creative
If your business is engaged in the Digital & Creative sector (including advertising, architecture, arts, antiques, crafts, design, designer fashion, digital & ICT, music, publishing, radio and television, software, computer games and electronic publishing, video, film and photography and visual and performing arts) then you may qualify for support via The North West Fund for Digital & Creative.  This sector growth fund provides a flexible equity package, which can include Mezzanine Finance (loans linked to equity) from £50k to £1.5m.  This type of funding is particularly helpful to fast growing innovative businesses in the Digitla and Creative sectors which have been unable to attract growth capital from traditional sources.

 

Start-up
If your business is a start-up seeking pre-revenue or "first round" finance to support development and commercialisation for its products and services you may qualify for support by The North West Fund for Venture Capital.  The Venture Capital Fund provides a flexible equity package, which can include Mezzanine Finance (loans linked to equity), from £50K to £2 million.  This type of funding is particularly helpful to fast growing innovative businesses which have been unable to attract growth capital from traditional sources.  In return Fund Managers will seek to take an equity stake in the business.

 

Business Expansion
If your business requires investment capital to support business expansion you may qualify for support by The North West Fund for Mezzanine.  The Mezzanine Fund provides a flexible equity package, which can include loans linked to equity from £750K to £2 million.  This type of funding is particularly helpful to trading businesses seeking finance to support expansion plans.  In return Fund Managers will seek to take an equity stake in the business.