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

Events in June 2017 <<    >>
MoTuWeThFrSaSu
   1234
567891011
12131415161718
19202122232425
2627282930  
  • Indicates events in Teesside

Latest News

North East Finance (Holdco) Limited (NEF) is seeking to appoint a capable individual to join the board of the company as a non-executive director - NOW CLOSED

NEF is the holding fund manager of the Finance for Business North East (FBNE) programme, a suite of venture capital and loan funds which invested £160m in SMEs based in the North East of England from 201-2017.

Read More

Recruitment of Non-Executive Directors for the North East Fund - NOW CLOSED

Two independent non-executive directors are sought to join the Board for North East (SVP) Ltd, the holding fund management company for the North East Fund, from April 2017.

Read More

Events

Prepare & Pitch Event: Is your business investor ready?

Read More


Pitch Perfect

Read More

The Funds

Find out more about our seven funds to help business

Read More

Focus on Teesside

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

Read More


Visit

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

Open in Google Maps

Telephone 0191 211 2300

Join the Mailing List


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