The £125m Finance for Business programme provides debt and equity finance from £1,000 to £1.25m to SMEs based in, or relocating to, the north east of England, with the aim of helping them to start up, develop or grow.
The fund is financed jointly by a loan from the European Investment Bank and grants from the European Regional Development Fund and UK Government. It is expected that the fund will complete investment by 31st December 2014 with the realisation period running until 2020.