Frequently Asked Questions

Q  How is the North East Finance for Business Fund financed?

A  The fund is financed jointly by a loan from the European Invesment Bank and grants from the European Regional Development Fund and UK Government

 

Q  How much funding is available?

A  A total of £159.5m was invested across seven product funds up to the end of 2016. 

 

Q  For how long is the North East Finance for Business Fund open?

A  The fund is now fully invested

 

Q  What areas does the north east of England cover?

A  The counties of Durham and Northumberland; the metropolitan districts of Gateshead, Newcastle upon Tyne, North Tyneside, South Tyneside and Sunderland and the non metropolitan districts of Darlington, Hartlepool, Middlesbrough, Redcar and Cleveland and Stockton on Tees.

 

Q  What is an SME?

A An SME is an independent business which is not more than 25% owned by another company/group and that has less than 250 employees and an annual turnover not exceeding 50m Euro (£40m) or a balance sheet total not exceeding 43m (£34.5),

 

Q  What are the sectors into which the fund cannot invest?

A  Whilst the scheme is open to most business sectors, the following businesses will generally be ineligible for support:

  • Those subject to collective insolvency proceedings
  • Those in commercial property investment
  • Those covered by EC sector restrictions including the retail sector, housing, marketing of products in the agriculture, fisheries and aquaculture sectors, gambling, production of weapons and ammunition
  • Those which fall within the definition of a "business in financial difficulty" under the "Community Guidelines on State Aid for Rescuing or Restructuring firms in difficulty"

In addition the funds cannot be used to finance management buy-outs or management buy-ins

 

 

Northern RDAs GBER Notice

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Latest News

Invitation to tender for provision of consultancy services to undertake a final evaluation of the English JEREMIE funds

North West Business Finance, Finance Yorkshire and North East Finance are seeking to commission an independent evaluator to carry out a final evaluation of their JEREMIE venture capital and loan funds. This is a requirement of their European Regional Development Fund funding

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Procurement of Venture Capital Portfolio Management Services

North East Finance is seeking to appoint a fund management organisation to take over the management of the investment portfolio of NEF's Finance for Business North East Technology Fund from the current fund manager and, potentially, to manage other venture capital investments from within NEF's portfolio.

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Events

Prepare & Pitch Event: Is your business investor ready?

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Pitch Perfect

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The Funds

Find out more about our seven funds to help business

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Focus on Teesside

Find out how North East Finance is helping fund growth in Teesside

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North East Finance
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33 Grey Street
Newcastle upon Tyne
NE1 6EE

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North East Finance (Holdco) Ltd. Registered office, North East Finance (Holdco) Ltd, First Floor 33 Grey Street Newcastle upon Tyne NE1 6EE, Company Registration No. 07000577
“North East Finance” and “Finance for Business North East Microloan Fund” are trading names of North East Finance (Subco) Limited (Registered Number 07039229), which is authorised and regulated by the Financial Conduct Authority with reference number 718870