Growing numbers of new companies with bright ideas and big ambitions are benefiting from the EM3 Funding Escalator. The fund itself is a creative and innovative way of supporting high potential businesses who are the future growth machines of the local economy but considered too risky by commercial lenders. The £10m fund was launched last year and comprises of an expansion loan scheme, a short-term trade loan scheme and an equity growth fund.
The fund provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the EM3 area. The returns on investment and repaid loans are recycled back into the fund, which means more firms are being supported at no extra cost to the public purse and so innovation funds innovation.
The scheme is made up of the following funds:
The Enterprise M3 Expansion Loan Scheme can provide up to £300,000 by way of a loan to established SME businesses requiring finance to implement expansion activities that will deliver substantial growth.
The Enterprise M3 Short Term Trade Loan Scheme can provide £50,000 to £300,000 loan funding to SME businesses with a short term trade funding requirement.
The Enterprise M3 Growth Fund invests in high growth small and medium sized businesses and can provide up to £200,000 as an equity investment. The investment must be matched by at least an equal amount of private investment, which the FSE Group can work with the company to source.
For more information on these funds and to apply, please visit The FSE Group's website.
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