The NPIF is designed to stimulate regional economic growth, increase GVA and create jobs and it is an important part of the finance mix alongside banks and other gap funding programmes available to businesses.
Carlisle City Council recently met with Maria Ramsdale of FW Capital who is one of the Fund Managers for the NPIF to find out more about what is available to businesses and where they can go for more information.
Maria explained that the aim of the fund is to provide a mixture of loans and equity capital to Cumbrian SMEs at all stages of their development, to increase the supply of finance and help create a more diverse finance market.
There are three funds available:
Microfinance = £25k-£100k for recent start-ups and existing SME businesses seeking to borrow to kickstart activity
Debt Finance = £100k -£750k for SMEs needing to borrow larger amounts to finance growth
Equity Finance = £50k - £2m for SMEs with ambitious growth plans seeking an equity injection of up to £2m
To find out more about the NPIF and to hear how it could support your business growth plans, a ‘Finance for Business Growth’ event will be held on 14th September 2017 from 1pm at Unit 6, Cumbria LEP Conference Centre, Redhills, Penrith, Cumbria, CA11 0DT. Please contact Maria to book a place on T: 01768 213074 or E: [email protected].