12th September 2019
Lancashire has an outstanding track record of commercialising great ideas and turning them into world-class products and services, and this is driven by the region’s ambitious and hungry SMEs.
However, for some of these firms getting access to finance can be a major barrier to growth.
That’s why an initiative like the Northern Powerhouse Investment Fund, which exists to support Lancashire businesses with investment when they need it, is great news for the county.
It’s already supported a wide range of firms across Lancashire, from tech companies to traditional manufacturers, helping every type of smaller business flourish and grow.
I would therefore encourage any SME with the passion and drive to succeed to see if the fund could help them, just as it has for some of the fantastic Lancashire businesses featured here.
Microfinance
£25k – £100k
Blackpool based rescue training business Reax secured a £35,000 investment from NPIF – BFS & MSIF Microfinance – a product fund managed by GC Business Finance in partnership with MSIF and part of the Northern Powerhouse Investment Fund (NPIF). The investment will be used to fund new jobs and a significant expansion of the company … Continue reading "Microfinance"
Debt Finance
£100k – £750k
Wireless Social, the Preston-based provider of hospitality guest WiFi, analytics and guest engagement solutions secured a £500k of funding from NPIF – FW Capital Debt Finance to build on its success and accelerate growth. Wireless Social has been in business for over five years and has amassed over 3,500 customers in the UK, ranging from … Continue reading "Debt Finance"
Equity Finance
£50k – £2m
NPIF – Maven Equity Finance, managed by Maven and part of the Northern Powerhouse Investment Fund led a £1.27 million investment in West Lancashire based Trak-rap Holdings Limited (“TrakRap”), a designer and manufacturer of sustainable packaging solutions. A total of £750,000 was invested on behalf of NPIF alongside an additional £320,000 from existing shareholders and … Continue reading "Equity Finance"
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