Finance for Business

Coverage: Blackburn with Darwen, Blackpool, Burnley, Chorley, Fylde, Hyndburn, Lancaster, Pendle, Preston, Ribble Valley, Rossendale, South Ribble, West Lancashire, Wyre,

Finance Type: Business Expansion, Capital Investment, Plant and Equipment, Property Improvement,

Summary

The provision of debt, equity and mezzanine support to SME’s unable to raise finance on the commercial market but having viable business plans. 

Loan support is only available where interest rates are charged above commercial rates (in line with State Aid rules and reflecting the higher risk which commercial lenders are unwilling to meet), where the borrower has been unable to raise finance from commercial lenders despite appropriate signposting and awareness raising (such as finance and investment readiness support) and where there is a viable business plan.

Funding is available to businesses with less than 250 employees and a turn-over of up to €50,000,000 or a balance sheet of up to €43,000,000  (EU definition of a medium sized company)

Funding proportion:

Provides loans of up to £250,000, equity investment of up to £2,000,000 (two-thirds public supplemented by a minimum one third private investment) and mezzanine arrangements across the spectrum.

Timeframe:

Depends on the VC and loan funds that the NWDA are continuing and will transfer over to CfEL. NWDA currently hold access channel details for the c. £450,000,000 of venture capital and loans funds that they support. The oversight management will transfer to CfEL as the NWDA closes.

Funding: Provides loans of up to £250,000, equity investment of up to £2,000,000

Type of Funding: Loan

Project Timeframe - Expiry Date: Tuesday 31st March 2015

Eligibility: Funding is available to businesses with less than 250 employees and a turn-over of up to €50,000,000 or a balance sheet of up to €43,000,000(EU definition of a medium sized company)

Disclaimer: The information above was accurate at the time of publishing. This is a constantly evolving directory and we will amend the details as and when required. Regenerate Pennine Lancashire is not responsible for the accuracy of external information.

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