Small business loans from £25,000 – £100,000
Whether you are an entrepreneur wishing to start your own business, an early stage or more established SME looking to grow you may find it difficult obtaining the finance you need. Microfinance can be used to fill the funding gap for growth and development projects.
Microfinance is available for a wide range of purpose including filling gaps in working capital, funding expansion projects, leasing commercial premises and asset acquisitions.
Northern Powerhouse Investment Fund micro finance, provides loans of between £25,000 and £100,000. Interest rates typically will be between 8-15%, and the term of the loan can be between 1 to 5 years.
Who should apply?SMEs located in the North West of England that require finance to achieve their start-up, development or growth plans.
To apply you will need to be able to demonstrate a viable business plan, which shows that the business can both meet the loan repayment and create or protect jobs as a result of the finance.
You will also need to be able to show that you’ve tried unsuccessfully to obtain some or all of the finance you need from the traditional lenders.
The NPIF BFS & MSIF Microfinance Fund is jointly managed by GC Business Finance and Alliance Fund Managers (AFM – MSIF’s fund manager subsidiary)