For a Sustainable and prosperous UK economy to continue to grow, businesses across the UK need to thrive. The British Business Bank wants to break down particular barriers to finance so that access to finance is a level playing field for all entrepreneurs – wherever they are, whatever their gender, whatever their ethnicity.
The purpose of the Nations and Regions Investment Funds is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the UK, whatever the economic conditions, with an inclusive approach to all eligible sectors.
The British Business Bank has launched its Regional Investment Funds II in the Midlands and Northern Powerhouse and has launched new Investment Funds in other regions around the country. The Investment Funds will provide small loans of £25,000 – £100,000, Debt Finance from £1 million – £2 million, and Equity Finance up to £5 million.
The Northern Powerhouse Investment Fund II will build on the success of the first Northern Powerhouse Investment Fund and will deliver a £660 million commitment of new funding to smaller businesses – https://www.british-business-bank.co.uk/nations-and-regions-investment-funds/northern-powerhouse-investment-fund-ii-npif-ii/
The Midlands Engine II region will receive £400 million – https://www.british-business-bank.co.uk/nations-and-regions-investment-funds/midlands-engine-investment-fund-ii-meif-ii/
The Southwest will be allocated £200 million to provide a new Southwest Investment Funding, building on the Cornwall and Isles of Scilly Investment Fund – https://www.british-business-bank.co.uk/nations-and-regions-investment-funds/south-west-investment-fund-swif/
In Scotland there will be £150 million to provide a new Investment Fund for Scotland – https://www.british-business-bank.co.uk/nations-and-regions-investment-funds/investment-fund-for-scotland-ifs/
Wales will receive £130 million to provide a new Investment Fund for – https://www.british-business-bank.co.uk/nations-and-regions-investment-funds/investment-fund-for-northern-ireland-ifni/
Northern Ireland will be allocated £70 million to provide a new Investment Fund – https://www.british-business-bank.co.uk/nations-and-regions-investment-funds/investment-fund-for-northern-ireland-ifni/
Click onto the above the websites to access the relevant regional funding.
Companies should then apply to the Fund Manager who will contact you to discuss your funding requirements and evaluate the loan.