North East Fund

The North East Fund is a £120m investment programme available to SMEs across Durham, Northumberland and Tyne and Wear. There are five funds available to suit the needs of SME’s depending on the sector which they operate in.

We recently conducted some research with Forum members to promote the financial opportunities available through the £120 million fund and to identify which of these opportunities were of interest to our members.

Almost two-thirds of respondents revealed that small loans were of interest.

Small Loan Fund

Features of the Small Loan Fund managed by NEL Fund Managers:

Aimed at small businesses who wish to finance plans for growth
• Loan is typically provided in the form of unsecured debt, without the need for Director’s Guarantees
• Loans from £10k – £50k are typically available
• Repayment term: up to 5 years (usually 3, 4 or 5 years). Repayment starts the month after drawdown
• Interest rate is determined following an individual assessment of risk
• The Small Loan Fund has the ability to support a variety of growth plans e.g. new equipment, tools, vehicle(s), marketing, cash-flow, increased staffing etc. The Small Loan Fund can’t be accessed as a means of refinancing existing debt
• Suitability of business for investment is considered on an individual basis with great attention given to ensuring the debt can be serviced within the cash-flow of the business

Contact NEL should you wish to have an initial discussion around your plans and to confirm the requirements in progressing an application. Application forms are available on request.
Telephone: 0345 369 7007
E-mail: enquiries@nel.co.uk
Website: www.nel.co.uk

Success Story

A North Tyneside technology firm is aiming to clean up right around the country after securing a £35,000 investment. It’s the first business in North Tyneside to take on an investment from the £120m North East Fund, of which the £9m Small Loan Fund is part. Find out more about their story

Offer to North Tyneside Businesses

We are currently working with NEL to develop support around collating documents for the application process for the Small Loan Fund. We are also working with them to develop 1-2-1 clinics with an Investment Manager.

Innovation Fund

Features of the Innovation Fund managed by NorthStar Ventures:

Aimed at innovative businesses which have strong teams and scalable ideas

  • Available to pre-start or existing businesses
  • Venture Capital* investments from £50k – £500k
  • Something that is different – developing a brand new product, launch into a new market or improve on an existing service
  • Open to businesses from any sector
  • Looking for ambitious entrepreneurs, market-focused business ideas, deep sector knowledge and global vision

Contact Northstar Ventures should you wish to have an initial discussion around your ideas, business, the problem you’re solving and the opportunity.

Telephone: 0191 229 2770
E-mail: jane.reynolds@northstarventures.co.uk
Website: www.northstarventures.co.uk

Offer to North Tyneside Businesses

We are currently working with Northstar Ventures to develop an Accelerator programme for businesses in North Tyneside.

*Venture capital is finance that investors provide to startup companies and small businesses that are believed to have long-term growth potential.

Growth Capital Fund

Features of the Growth Capital Fund managed by NEL Fund Managers:

  • Aimed at ambitious businesses which wish to accelerate their growth potential
  • Loan is typically provided in the form of unsecured debt, without the need for Director’s Guarantees
  • Unsecured investments of up to £500,000
  • Repayment term: up to 5 years (usually 3, 4 or 5 years). Repayment starts the month after drawdown
  • Job creation is an essential prerequisite of each application
  • Applicants must be able to demonstrate affordability of fixed monthly repayments

Bespoke funding packages can be tailored to individual business needs, typically via debt finance, mezzanine loans or equity investment.

Contact NEL should you wish to have an initial discussion around your plans and to confirm the requirements in progressing an application. Application forms are available on request.
Telephone: 0345 369 7007
E-mail: enquiries@nel.co.uk
Website: www.nel.co.uk

Facebook

Share This