The Northern Powerhouse Investment Fund (NPIF) is an initiative launched by the government-owned British Business Bank. NPIF provides commercial finance through three types of product funds: Microfinance, Debt Finance and Equity Finance. These funding options are designed to plug common gaps in the provision of finance, giving your business access to the funding it needs to help it grow.
How can my business benefit?
If you are an entrepreneur, a start-up or SME located in the North of England*, the Northern Powerhouse Investment Fund (NPIF) could provide the funding you need to help your business realise its potential.
- NPIF is a collaboration between the government-owned British Business Bank and ten Local Enterprise Partnerships (LEPs) in the North West, Yorkshire, the Humber and Tees Valley and provides commercially focussed finance to help SME’s start -up and grow.
- NPIF combines £400 million of funding from the UK Government, European Regional Development Fund, British Business Bank and European Investment Bank to help businesses in the region to scale-up and become a successful part of the government’s Northern Powerhouse vision.
- NPIF provides capital to appointed Fund Managers who offer three different funding options designed to plug gaps in the provision of commercially available finance, ranging from £25,000 Loans to £2million Equity Investments.
- NPIF’s appointed Fund Managers are open to applications from a wide range of sectors from early stage innovative businesses through to manufacturing and creative and digital industries. If you can demonstrate growth potential, your business may be eligible.
- In recent years, European funding and loans from the British Business Bank have resulted in a number of success stories in the North of England – http://www.npif.co.uk/case-studies/
*NPIF investment area is the North West, Yorkshire & the Humber and Tees Valley
** Eligibility criteria apply and Fund Managers will be able to advise on suitability.
What funding options are available?
- Small business loans
- £25,000- £100,000
- For new or growing businesses to support working capital needs
- Business loans
- £100,000 – £750,000
- For early stage or more established businesses that can demonstrate growth potential
- Early stage and later stage equity funding
- £50,000 – £2million
- For start-ups or more established businesses with high growth potential
How do I apply?
Enquiries and applications are made direct to NPIF’s selected Fund Managers, full details of which can be viewed at www.npif.co.uk In our experience businesses improve the turnaround time of their application and their chance of success if they work on their application with their accountant or business adviser.
To apply go to the Funds Available page on the NPIF website http://www.npif.co.uk/funds-available/. To make an enquiry, select the amount of finance required, the type of funding and your location to show the relevant Fund Managers who could help.