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 is available across the seven product funds for investment up to the end of 2015
Q For how long is the North East Finance for Business Fund open?
A It is expected that the fund will complete investment by 31 December 2016 with the realisation period running until 2020.
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 June 2017 << >>|
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
The North East Fund will manage asuite of venture capital and loan funds('VCLFs') to support small and medium sized enterprises in the North East Local Economic Partnership Area in the 2017-2023 period.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