Loans Plus fund hits eight-figure lending milestone

Businesses across the North West have received more than £35m in investment from The North West Fund for Loans Plus since 2011, according to data from the organisation.

The loans have created or safeguarded around 1,700 jobs in the region, the Loans Plus manager FW Capital has reported, in addition to attracting a further £16m in private sector investment.

Discussing the long-term impact of the loans, which went out to almost 200 North West enterprises, fund manager Gary Guest said: “This is a significant milestone both for the businesses we’ve invested in as well as the economy of the North West. We’ve met some hard working and successful business owners in every county of the North West over the last five years.

“Our loans are providing these business owners with the backing they need to build and expand their businesses.”

He added: “These businesses are already making a significant contribution to the region’s prosperity and I’m confident they’ll continue playing a key role in its future growth.”

SMEs can borrow between £50k and £750k from The North West Fund for Loans Plus, which is part of the wider £155m North West Fund.

Wythenshawe-based digital marketing and contact centre firm Intelling Group, which received a £500k funding package from The North West Fund for Loans Plus and The Greater Manchester Loan Fund two years ago, has since created 290 jobs.

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