The North West Fund launches £3 million Micro Fund for SMEs

North West Business Finance Ltd (NWBF), which manages The North West Fund, has launched a fund worth £3 million for businesses based in or relocating to the North West of England.

The North West Fund for Micro Loans, managed by Business Finance Solutions and MSIF, will provide loans of £25,000 to £50,000 to businesses at all stages.

The £3 million Fund is a substantial evergreen fund supported by the European Investment Bank and European Regional Development Fund.

The fund managers are keen to hear from entrepreneurs who can demonstrate a strong case for investment with a business plan that shows vision for growth. These businesses may have been unable to attract funding from traditional sources.

Cliff Maylor, Chief Executive at NWBF said: “The Micro Fund will extend our offering and support the region’s growing businesses with smaller investments. We recognise that there is a real demand for smaller investments and we have already received a huge amount of interest in this new Fund.

“We look forward to working closely with the teams at Business Finance Solutions and MSIF as they support The North West Fund and help us to continue to drive business growth across the region.”

David Martin, Fund Manager at Business Finance Solutions said: “We are delighted to be a part of The North West Fund. This is excellent news for the region’s businesses and we have already had a very positive response from intermediaries and business owners. We look forward to providing much needed finance, creating jobs and growth across the region.”

For more information, visit: www.thenorthwestfund.co.uk

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