The coronavirus is causing huge difficulties for businesses in the region. The North East Fund is continuing to support SMEs with their financing needs.
For Northumberland, Tyne & Wear and County Durham based businesses, and entrepreneurs looking for financial support or advice with projects that may help tackle issues caused by coronavirus, email [email protected] with a short summary of your project and your requirements. A member of the North East Fund team will get back to you.
The £18 million North East Growth Capital Fund backs ambitious businesses with unsecured investments of up to £500,000. The fund enables actively trading businesses throughout Durham, Northumberland, and Tyne & Wear to accelerate their growth potential and can form part of a larger funding round where required.
Bespoke funding packages can be tailored to individual business needs, typically via debt finance, mezzanine loans or equity investment.
The fund is managed by NEL Fund Managers whose local investment team are committed to supporting sustainable business plans backed by credible management teams. Many businesses who have already received Growth Capital Fund investment are now celebrating the growth they have achieved as a result.
As well as offering investment, the Growth Capital Fund also offers free support and events to help businesses achieve their potential. If you’re interested in hearing about future fund updates and business support activities please subscribe here.
The Growth Capital Fund backs ambitious businesses looking to realise their growth potential and create new jobs.
• Investments of up to £500,000
• Terms of up to 5 years
• Unsecured finance, without the need for Director's Guarantees
• Bespoke terms tailored to meet business needs
Supported by the European Regional Development Fund, The North East Growth Capital Fund is designed to facilitate the creation of 790 new jobs in the region and generate £18m worth of co-investment opportunities by investing in more than 70 local SMEs by the end of 2022.