A £400m investment fund to support the growth of small and medium-sized businesses across the Midlands is on course to be launched in February 2024. The fund allocation for Midlands Engine Investment Fund II (MEIF II) is being delivered by the British Business Bank, bringing the total for investment in the region to over £700m since 2017.
The Midlands Engine Investment Fund II is part of the new Nations and Regions Investment Funds, launched by the British Business Bank, which will deliver a commitment of new funding to drive sustainable economic growth, levelling-up of access to finance in the Midlands through debt and equity funds in the region.
The Midlands Engine Investment Fund II will offer a range of commercial finance options with small loans from £25,000 and equity investment up to £5m. The new fund will cover the entire East Midlands, South East Midlands and West Midlands region.