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:
In addition the funds cannot be used to finance management buy-outs or management buy-ins
|Events in December 2019 << >>|
North East Finance is the holding fund manager for the Finance for Business North East Fund and is seeking an FCA-regulated firm or individual with corporate finance/ portfolio management expertise to provide an independent investment and corporate finance advisory service to a portfolio of assets from within the FBNE portfolio. The appointment will be for 2 to 3 years.Read More
North East Finance invites law firms to tender for the provision of legal services.Read More
Find out more about our seven funds to help businessRead More
Find out how North East Finance is helping fund growth in TeessideRead More