Businesses across Derbyshire and Nottinghamshire gathered to hear about a new slice of funding for companies across the Midlands today (October 5), at a ‘meet the funders’ event at the Derby Arena, opened by the Chief Executive of the D2N2 Local Enterprise Partnership (LEP).
Businesses with an interest in funding which could support and grow their operations came to the Derby Arena this morning, to hear all about the Midlands Engine Investment Fund (MEIF). This is a new £120million portion of funding, created as a collaboration between Government, the British Business Bank and ten LEPs in the East and West Midlands.
D2N2 – the LEP for the Nottinghamshire and Derbyshire area – has been involved in helping to establish the MEIF, and yesterday’s event, which gave information on the specifics of different funds, directly from the organisations who will be managing them. There was also a briefing from the D2N2 Growth Hub – a free and impartial business support and advice service which works across the D2N2 area – on the new ScaleUp Service for high growth businesses.
The MEIF is composed of two separate lots of funding – £30m of small business loans valued between £25,000 and £150,000, as well as £90m of debt finance worth between £100,000 and £1.5million. The £120million fund is part of a wider £250m commitment, with further funding due to be made available later this autumn (2017). It brings together new and existing funding from Central Government, the European Regional Development Fund (ERDF), British Business Bank and European Investment Bank (EIB).
For more information on the MEIF, visit: http://www.meif.co.uk/
For more information on the Midlands Engine, visit: https://www.midlandsengine.org/
For further information on the Midlands Engine Investment Fund please visit the website.
For more information on the above event please contact the D2N2 Growth Hub:
Tel: 0333 006 9178
For More Information on the above release, please contact:
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