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30 October 2014

Cliff Maylor, CEO, North West Business Finance Ltd

Welcome to the final edition of INSPIRE for 2014…

Cliff Maylor edit

We move into the final quarter of 2014 after a productive summer.  We announced in September that we passed the £100 million investment milestone, having supported more than 300 North West businesses with capital. This is an achievement we are extremely proud of.

We are also pleased to see that our investments are already having an impact in terms of employment, as our finance has led to the creation and safeguarding of over 2,500 jobs across the region and we expect to see this figure increase with the growth of the companies.

There is still a lot of work to do as we move into the final year of this current programme but we are confident that we will be fully invested by 31st December 2015. 

In September, we also officially launched our Micro Fund, known as The North West Fund for Micro Loans. Managed by Business Finance Solutions and MSIF this fund will provide smaller loans of between £25,000 and £50,000. We have already seen a lot of interest in the newly launched Fund and we look forward to sharing some case studies from their portfolio in the next issue of INSPIRE.

We have been busy over the summer, looking ahead to the next European Programme and the possibility of creating a second JEREMIE Fund in the region. We have been meeting regularly with all five North West Local Enterprise Partnerships to discuss the 2014-2020 programme. We think a successor Fund would be a great boost for the region and would build on the progress we are already making with the current North West Fund.

We should all feel privileged that one of the largest fund of its type in Europe has been entrusted to the North West. We are keen to build on this legacy and to continue to deliver employment and prosperity for the region. We believe it is vital for the North West that funding streams, like those available through The North West Fund, remain available to businesses after 2015.

I hope you enjoy the Newsletter.

Kind regards,

Cliff Maylor
CEO of North West Business Finance Ltd which manages The North West Fund

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