The British Business Bank aims to make finance markets work better for smaller businesses across the whole of the UK, in line with the Government’s aim of boosting long-term growth in the regions and narrowing the historic North-South funding gap.
In addition to our three regional funds, in 2018 British Business Investments, a commercial subsidiary of the British Business Bank, launched the £100m Regional Angels Programme designed to help reduce regional imbalances in access to early stage equity finance for smaller businesses across the UK.
Northern Powerhouse Investment Fund (NPIF)
- The £400m Northern Powerhouse Investment Fund, launched on 22 February 2017, supports smaller businesses across the Northern Powerhouse region.
- NPIF provides funding to fund managers who offer microfinance (£25,000 – £100,000), business loans (£100,000 – £750,000) and equity finance (up to £2m).
Midlands Engine Investment Fund (MEIF)
- The British Business Bank is also working alongside LEPS in the Midlands to deliver a second regional fund, the Midlands Engine Investment Fund (MEIF).
- The MEIF provides over £250m of investment to boost small and medium business (SME) growth in the Midlands and is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the West Midlands and East and South East Midlands.
- The MEIF provides commercially focussed finance through Small Business Loans, Debt Finance, Proof of concept and Equity Finance funds.
Cornwall and Isles of Scilly Fund (CIOSIF)
- The British Business Bank has established the Cornwall & Isles of Scilly Investment Fund in partnership with the Cornwall & Isles of Scilly LEP.
- The £40m investment Fund will support access to finance where barriers exist for SMEs and seek to address an equity gap in start-up, early stage and development capital.
For further background, please read our Statement on Regional Funds.