Frequently asked questions

Yes, a company who received funding from NPIF can apply for NPIF II finance.

Enquiries and applications are made direct to NPIF II’s selected fund managers, full details of which can be viewed here. NPIF II cannot provide financial or business advice to businesses seeking funding and businesses may wish to engage their own accountant or business adviser if application assistance is required.

NPIF II does not invest directly in businesses. It invests through product funds which are managed by NPIF II’s appointed fund managers. The Fund will offer three commercial finance options with Smaller Loans from £25k to £100k, Debt Finance from £100k to £2m and Equity Finance up to £5 million.

NPIF II’s product funds can invest alone or alongside other sources of debt or equity capital where appropriate.

Yes, you can still apply for NPIF funding if your company has received a BBLS or CBILS backed loan.

NPIF II will have an inclusive approach, but some eligibility criteria do apply to NPIF II funding and fund managers will be able to advise on suitability.

The first Northern Powerhouse Investment Fund was launched in February 2017 and finished its investment phase in December 2023, having facilitated over £1bn of direct and private sector co-investment. The Northern Powerhouse Investment Fund II is the next iteration of the Fund which is larger in size and has been expanded to include the whole of the North East.

The funding option sizes have also been increased with Debt Finance now available up to £2m and Equity Finance now available up to £5m.

The Northern Powerhouse Investment Fund II (NPIF II) will deliver a £660m commitment of new funding through investment strategies designed to meet the needs of the businesses in the North of England. NPIF II aims to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. NPIF II will increase the supply and diversity of early-stage finance for smaller businesses in the North, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

NPIF II will offer three commercial finance options with Smaller Loans from £25k to £100k, Debt Finance from £100k to £2m and Equity Finance up to £5 million.

NPIF II has been designed to help address market failures by increasing the supply and diversity of early-stage finance for UK smaller businesses, providing funds to firms that might otherwise not receive investment. The product funds that NPIF II supports provide commercially focussed funding to businesses across the North. NPIF II’s product funds can invest alone or alongside other funders, and indeed NPIF II fund managers are encouraged to leverage-in additional private capital.

NPIF II covers the whole of the North of England, including rural, coastal and urban areas. Investments can be made in businesses that are headquartered in the North or have a significant operating presence there.