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23 September 2014

The North West Fund launches Micro Fund for investments of £25,000 to £50,000

Press Release 23rd September 2014

North West Business Finance Ltd (NWBF), which manages The North West Fund, is pleased to announce that it has launched a new Fund for businesses based in or relocating to the North West of England.

The North West Fund for Micro Loans, managed by Business Finance Solutions and MSIF, has been closely tailored to the investment needs of the region's businesses. 

The £3 million Fund will provide loans of £25,000 to £50,000 to businesses at all stages, whether they are just starting up or looking to expand. 

The fund managers are keen to hear from entrepreneurs who can demonstrate a strong case for investment with a business plan that shows vision for growth. These businesses may have been unable to attract funding from traditional sources. 

Cliff Maylor, Chief Executive at NWBF said: "The Micro Fund will extend our offering and support the region's growing businesses with smaller investments. We recognise that there is a real demand for smaller investments and we have already received a huge amount of interest in this new Fund.

"We look forward to working closely with the teams at Business Finance Solutions and MSIF as they support The North West Fund and help us to continue to drive business growth across the region."

David Martin, Fund Manager at Business Finance Solutions said: "We are delighted to be a part of The North West Fund.  This is excellent news for the region's businesses and we have already had a very positive response from intermediaries and business owners. We look forward to providing much needed finance, creating jobs and growth across the region."  

Lisa Greenhalgh, Chief Operating Officer at MSIF said: "We have a lot of demand for lending at this level and it is fantastic for us that we have further resources now available which will enable us to support more businesses with smaller lending requirements. We are pleased to be a part of The North West Fund and are looking forward to helping to complete the delivery of this project."

The North West Fund is a substantial evergreen fund supported by the European Investment Bank and European Regional Development Fund to supply debt and equity funding to growing small and medium-sized enterprises in the North West of England.

Entrepreneurs and intermediaries will have the chance to speak directly to the new fund managers at a launch event this autumn. Any businesses hoping to apply can complete an online application form at www.thenorthwestfund.co.uk or contact the fund managers directly on:

The North West Fund for Micro Loans

David Martin, for Cheshire, Greater Manchester, Lancashire and Cumbria:

0161 245 4952

Sue Chambers, for Merseyside:

0151 236 4040

thenorthwestfund@b-f-s.org.uk

 

 


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