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Criteria

Before you start your application, make sure your business meets the criteria of our funds.

Fund criteria

Location

We can lend to businesses in the Northern Powerhouse Investment Fund region, with a focus on:

  • Cheshire
  • Cumbria
  • Greater Manchester
  • Lancashire
  • Merseyside
  • Tees Valley

Business type

You must be an SME by the EU definition (less than 250 employees being the key measure).

Finance is available for established businesses, but we may be able to support start-ups in certain circumstances.

Sectors

Generally we can invest across most sectors. However, certain sectors are excluded; please contact us for more details.

Use of finance     

Finance cannot be used to refinance existing lenders.

Business location

Businesses must be based in the North East, including County Durham, Darlington, Gateshead, Hartlepool, Middlesbrough, Newcastle, North Tyneside, Northumberland, Redcar & Cleveland, Stockton on Tees, South Tyneside, Sunderland and parts of Hambleton, Richmondshire and Ryedale.

Business type

Both SMEs and larger businesses can apply. However, any business must demonstrate a strong business case for investment, be earning revenue and entering into a commercial contract.

Sectors

Generally we can invest across most sectors. However, certain sectors are excluded; please contact us for more details.

Use of finance     

The Fund helps ambitious businesses win new contracts by providing short-term debt investments from £100,000 to £2 million to:

Fund short-term advanced payment guarantees, performance and warranty bonds or extend existing bond facilities.

Business location

The fund is available to construction companies and property developers looking to build projects in the seven local authority areas of the North East:

  • Northumberland
  • County Durham
  • Gateshead
  • Newcastle upon Tyne
  • North Tyneside
  • South Tyneside
  • Sunderland

Business type

To qualify you must be a construction and property development company who typically works with small-scale, non-speculative commercial and residential property, such as new housing schemes, refurbishment schemes, mixed-use schemes, new office, industrial and warehouse developments and phased developments.

Sectors

This is a niche fund aimed at the property sector.

Use of finance     

The fund provides short-term loans between £250,000 and £1 million for development costs with terms up to 2 years.

The fund is a response to strong demand from smaller construction and property development companies who have struggled to access development finance from traditional lenders.

Business location

We can provide CBILS loans in the Northern Powerhouse Investment Fund region, with a focus on:

  • Cheshire
  • Cumbria
  • Greater Manchester
  • Lancashire
  • Merseyside
  • Tees Valley

You must also:

  • Require a loan of between £100,000 and £750,000
  • Have an annual turnover of up to £45 million
  • Have a borrowing proposal which we would consider viable, if not for the coronavirus pandemic
  • Be able to self-certify that your business has been adversely impacted by coronavirus
  • Have not already taken a loan through the Bounce Back Loan Scheme
  • Have less than 250 employees (full-time equivalent)

Your business must generate more than 50% of its turnover from trading activity.

You must not be a business in difficulty. For more information, please refer to the British Business Bank's CBILS FAQ page.

 

Sectors

Generally we can invest across most sectors. However, certain sectors are excluded; please contact us for more details.

 

Use of finance     

Your CBILS-backed facility will be used to support primarily trading in the UK.

Please note

If your business isn’t based in the right area, but is either willing to relocate or will have a material presence in the region as a result of the investment, then this should be sufficient – our local Investment Executives can provide further guidance on this.

A business plan and some financial information will also need to be provided before you are able to receive any funding.

 

Ready to apply?

If you are ready to apply click here.