For more information please contact Emma Beck (Business Finance Solutions PR) on 07932 763 015 or email@example.com
NOTE TO EDITORS:
About Business Finance Solutions (BFS)
- BFS is a leading alternative business finance provider in Greater Manchester and the wider North West. Based in Manchester City Centre it works to close the ‘finance gap’ to ensure that businesses have access to the finance they need through a wide range of products and embedded business support.
- BFS is part of the Manchester Growth Company and was established in 2002 with a brief to provide a professional and service focused alternative business finance options for businesses that have been unable to obtain funding through a mainstream lender. Over the years, they have grown and developed the finance offering and now provide a range of business finance solutions including Start Up Loans, The North West Fund for Micro Loan and NPIF Microloans.
- Outside of the North West BFS is a national back office provider for the Start Up Loans Scheme. The finance offering ranges from £500 through to £500k and the terms range from one to five years. To date BFS has lent over £90m to businesses across the UK and supported over 10,000 businesses.
0161 245 4977 Info@b-f-s.org.uk
About the Northern Powerhouse Investment Fund
- The Northern Powerhouse Investment Fund will invest in Microfinance, Business Loans and Equity Finance sub-funds which will offer financing ranging from £25,000 to £2m, specifically to help small and medium sized businesses secure the funding they need for growth and development.
- The Northern Powerhouse Investment Fund is operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity.
- The Northern Powerhouse Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company.
- The NPIF covers the following LEP areas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Humber, Leeds City Region, Sheffield City Region, York, North Yorkshire and East Riding
- The project is receiving up to £140,359,192 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.
- The funds in which Northern Powerhouse Investment Fund invests are open to businesses with material operations, or planning to open material operations, in, Yorkshire and the Humber, the North West and Tees Valley.
- There is a separate regional investment programme of £145m covering the North East LEP area.
- The British Business Bank has published the Business Finance Guide (in partnership with the ICAEW, and a further 21 business and finance organisations). The guide, which impartially sets out the range finance options available to businesses and provides links to support available at a regional level, is available at www.thebusinessfinanceguide.co.uk/bbb