FW Capital has welcomed two new recruits to strengthen its Northwest team after receiving an additional £9.48m funding boost as part of the Northern Powerhouse Investment Fund (NPIF).
Caroline Turley and Steven Molyneux have been appointed as Investment Executives. Caroline is based in the Liverpool office and Steven in the Preston office. Both will assist in helping businesses across the region to access investment to support growth via the Northern Powerhouse Investment Fund. The additional £9.48m funding increases FW Capital’s Northern Powerhouse Investment Fund allocation to £172m. This is from a starting position of £102m when the Fund was first established.
Both have over 25 years’ experience of working in the banking sector. Caroline has worked for Yorkshire Bank as a corporate business manager and most recently in economic development at the Lancashire Business Growth Hub. Steven has worked in business relationship banking for both RBS and more recently at Handelsbanken.
Caroline Turley, Investment Executive at FW Capital explains: “I have worked in both the public and private sector in my banking and Business Growth Hub roles, and this has given me a good understanding of how businesses approach their funding needs and growth ambitions. This enables me to appreciate the challenges business owners encounter and the importance of working with organisations who take the time to get to know a business. I am able to combine this approach with my proven track record in lending to secure appropriate finance for growing businesses. It is a very exciting time of innovation in the Liverpool City Region, and I am looking forward to helping businesses across the city and the North West region to facilitate growth.”
Steven Molyneux, Investment Executive at FW Capital adds: ‘’As an Investment Executive at FW Capital, I will support businesses with their future growth aspirations, particularly when they may have had difficulty in securing funding through the private sector. Having spent many years in the banking industry, I fully understand the challenges that many businesses face in accessing the funding that underpins their growth, and will use this experience and established network to ensure businesses across Lancashire and the North West can achieve their business goals.
Sean Hutchinson at the British Business Bank, said: “It’s great to see a growing team at FW Capital, that will work to bring access to finance to businesses across the North West. Caroline and Steven are valuable additions to the team, bringing a wealth of experience working with businesses, and I’m looking forward to collaborating with them to provide those across Merseyside, Lancashire and the wider North West with funding and advice to accelerate their growth ambitions.”
Loz O’Connor, FW Capital’s Fund Manager, said: “Steven and Caroline are excellent additions to our North West team and their appointments demonstrate our continued commitment to helping local businesses with their future development. Both have impressive backgrounds working in the banking sector and understand the obstacles faced by many businesses. Their expertise and knowledge is a great asset to our team and will help us to utilise further the financial support available from the Northern Powerhouse Investment Fund.”
FW Capital can provide loans of £100,000 to £750,000 in the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, and the Tees Valley.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European