Funding to start up, scale up or stay ahead in the North of England
If you are an entrepreneur, a start-up or SME located in the North West, the Northern Powerhouse Investment Fund (NPIF) could provide the funding you need to help your business realise its potential.
NPIF is a collaboration between the British Business Bank, the Liverpool City Region Local Enterprise Partnership (LEP) and nine other LEPs across the North West, Yorkshire, the Humber and Tees Valley and provides over £400 million of commercially focussed finance to help SME’s start up and grow.
What support is available?
Financed by the European Regional Development Fund (ERDF), the European Investment Bank (EIB) and the UK Government, the NPIF provides three different funding options designed to plug common gaps in the provision of finance, giving your business access to the funding it needs to help it grow, these include:
- Small business loans from £25,000 – £100,000
- For new or growing businesses to support working capital needs
- Business loans from £100,000 – £750,000
- For early stage SMEs or more established businesses that can demonstrate growth potential.
- Early stage and later stage equity funding from £500,000 – £2 million
- For established businesses with ambitious plans or large start-ups with high growth potential.
Who can apply?
We invite applications from businesses that are based in or have significant activity in the North of England. Eligible businesses may include:
- New start-ups
- Early stage companies
- Fast-growing small businesses
- Established SMEs*
- Small businesses looking to relocate in the North of England
- Businesses unable to source funding from banks or investors
The funding options can act as the boost your business needs, for example by:
- Funding expansion projects
- Leasing new commercial premises
- Making asset acquisitions
- Hiring a new team
- Purchasing new machinery or equipment
- Exporting abroad
- Filling gaps in working capital
How to apply?
- Find a fund manager at www.npif.co.uk
- Make an enquiry direct to the fund manager
- The fund manager will contact you to see if your business qualifies
- You make a formal application
- Your fund manager evaluates your application and makes the investment decision.
Ready to grow?
If you think your business would benefit from support or funding, get in touch and we’ll help you work things out.