09 Oct 2017
The UK’s national economic development bank, The British Business Bank, has announced a new £15m fund in partnership with MSIF, the Liverpool loan and equity provider. The Fund is available to help SME’s looking to grow their business as part of the Bank’s ‘Help to Grow’ programme.
The £15m North West Business Growth Fund is the first investment under the ‘Help to Grow’ programme and aims to support establishes businesses who are seeking development capital.
Delivered by MSIF, the programme will invest in companies within the Liverpool City Region and across the wider North West and North Wales regions, supporting high growth SME’s with loans between £250,000 and £1,000,000.
Geoff Whiteland, British Business Bank’s Director of Help to Grow, said: “The British Business Bank is committed to ensuring that smaller businesses across the UK are able to access the finance they need to grow and succeed.
“We are therefore delighted to be announcing the first fund investment of our Help to Grow programme.
“The North West Business Growth Fund will enable additional capital to be invested in promising smaller businesses in Liverpool and the surrounding regions, helping support their growth ambitions.”
Under the Bank’s Help to Grow programme, high growth SME’s across most sectors can access finance for Capital expenditure, supporting the development of new products and processes, investing in research and innovation and general work capital.
Lisa Greenhalgh, CEO of MSIF, said: “We are excited to be launching this new £15m fund jointly funded by MSIF and the British Business Bank to enhance our full product offering. We are delighted to be able to further support SMEs across the Liverpool City Region, and also the wider geography of the North West and North Wales.
“MSIF are still fully committed to supporting SMEs and the North West Business Growth Fund expands our portfolio of funds under management, ensuring we can help businesses with almost any funding requirement.”