The Northern Powerhouse Investment Fund provides commercially focused finance through Microfinance, Debt and Equity Finance funds.
NPIF is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the North West, Yorkshire, the Humber and Tees Valley.
NPIF provides over £400m of investment to boost small and medium business (SME) growth in the North of England.
The Northern Powerhouse Investment Fund was launched in February 2017. The Northern Powerhouse Investment Fund aims to produce greater levels of investment, increase the focus on the potential opportunities across the Northern Powerhouse regions and provide increased flexibility in the type of funding provided. The fund aims to help businesses to start up, scale up or stay ahead.
There are three funds available: Microfinance, Debt Finance and Equity Finance.
Microfinance: Small business loans from £25,000 - £100,000
Whether you are an entrepreneur wishing to start your own business, an early stage or more established SME looking to grow you may find it difficult obtaining the finance you need. Microfinance can be used to fill the funding gap for growth and development projects. Microfinance is available for a wide range of purposes including filling gaps in working capital, funding expansion projects, leasing commercial premises and asset acquisitions.
Debt Finance: Business loans from £100,000 - £750,000
As SMEs grow, larger amounts of finance can be needed to move them to the next level. Funding might be for hiring staff, purchasing machinery, moving premises or even as working capital to finance a big order. Analysis has shown that this finance can be difficult for firms in the North of England to access but that there is a strong level of latent demand. NPIF’s Debt finance option is designed for SMEs that can demonstrate growth potential.
Equity Finance: Early stage or late stage equity funding from £50k - £2m
Equity finance is widely accepted as an important ingredient for innovative and fast growth businesses at all stages. While the number and value of equity deals across the UK have grown in recent years there is a large disparity between the North of England and London and the South East. NPIF has a particular interest in supporting equity investments and helping to build a vibrant and sustainable venture capital community in the North.
NPIF has a particular interest in supporting equity investments and helping to build a vibrant and sustainable venture capital community in the North. An equity-based investment could be right for you if you are looking to grow at a rate that cannot be supported through borrowing, which will tend to be linked to the ability to service debt from existing cash flows. This can apply at any stage of a company’s growth cycle from start-up to scale-up.
For support and guidance on accessing finance, please contact our Business Support team on 0151 650 6940 or contact email@example.com.