The North East Small Loan Fund Supported By The European Regional Development Fund is a specialist provider of SME finance to support a wide variety of growth plans. The Fund typically offers loans of between £10,000 and £50,000 to support actively trading North East businesses, however in response to the impact of Covid-19 pandemic we have temporarily increased the Fund’s upper lending limit to £100,000.
The fund is managed by NEL Fund Managers whose local investment team are committed to supporting sustainable business plans backed by credible management teams.
With a mission to boost economic growth across the North East, the Fund will help make securing affordable finance achievable by providing unsecured loans which do not require the lender to take charges over business assets or Director’s Guarantees.
The North East Small Loan Fund is designed to facilitate the creation of 1200 new jobs in the region by investing in 320 local SMEs by the end of 2022 and is part of the North East Growth Hub’s business support Provider Network.
Actively trading local businesses across most sectors are eligible to apply to the North East Small Loan Fund (Supported By The European Regional Development Fund), with loans available for most purposes. Job creation is an essential prerequisite of each application and applicants must be able to demonstrate serviceability of fixed monthly repayments.
The Small Loan Fund is available to SMEs across Durham, Northumberland and Tyne and Wear. Businesses relocating to the area may also be eligible. If you are based in the Tees Valley, investment funds are available for your business at www.npif.co.uk
For more information about the Fund or to discuss your proposal, please contact our investment team on 0345 369 7007 or apply online via our application form.
If you already have a business plan please email it to firstname.lastname@example.org. Alternatively, we can supply you with a template to help illustrate your proposal. If you require a copy please apply online or speak to our team on 0345 369 7007.
Once we have received your completed application a member of our investment team will be in touch to arrange an initial meeting. During the investment process we may ask you to supply further information to support your application.