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North East Elevate Fund

 

What is the North East Elevate Fund?

The North East Elevate Fund (NEEF) is a £35m fund supporting businesses to scale up and innovate. It is designed to stimulate regional growth and create high-quality, sustainable jobs.

The fund is backed by the North East Fund.

We can help businesses who may be at the start of their journey, or more established, with finance to help them grow and evolve. 

Funding can be used for a variety of purposes including:

  • Working capital
  • Purchasing equipment
  • Recruitment
  • Marketing
  • Product / service development
  • ESG initiatives
  • Buying a business

Loans are available on terms up to 5 years.

We can help businesses who have the potential to grow and who are based in the North East Combined Authority Area:

  • County Durham
  • Gateshead
  • Newcastle
  • Northumberland
  • North Tyneside
  • South Tyneside

If your business isn’t based in the right area, but you are planning to relocate to the region, then this should be sufficient – our local Investment Executives can provide further guidance on this.

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

Making an application

To apply for a loan, you’ll need to provide us with the following:

  • 3 months bank statements
  • 3 years annual accounts
  • Latest management accounts, including P&L, Balance Sheet and Aged Debtors & Creditors
  • Statement of personal assets and liabilities 

We may require further information as part of your application.

 

Need to know more first?

If you have a question, just send us a message or try reading our FAQ section. Alternatively, if you are ready to apply, you can begin here.