£3 million available to support businesses across the North West
A new CDFI (Community Development Finance Institution) has launched across North Lancashire and areas of the North West, with ambitious goals to loan up to £3m within its first year to businesses who need it most.
Business Finance North West is offering small business loans worth up to £250k each, to start up entrepreneurs and businesses who are making a positive impact on their local communities but struggle to access mainstream finance.
Established by BEF in partnership with regional stakeholders, Finance NW brings 20 years of small business lending expertise to the North West. The focus to champion SMEs, helping them access finance to help with starting up, support with cash flow, invest in expansion through space or equipment and create or safeguard jobs.
Led by senior investment manager Simon Truby, who has been part of the BEF Group team for four years, Business Finance NW operates across Preston, Blackpool, Fylde, Blackburn, Rochdale, Bolton and Burnley.
Joining the team, which is also spearheaded by BEF Group board members Stephen Waud (CEO) and Simon Jackson (director of investment), is investment manager Ronnie Harris, who comments:
“I’m incredibly excited to be joining Simon and the team here at Business Finance North West. I have over 10 years’ experience working in business development and commercial finance and I can’t wait to bring that to SMEs across Lancashire and the North West, to help them access funds which can ultimately change the trajectory of their business.”
“We would love to reach our target of loaning £750k within our first three months, to demonstrate the huge impact responsible, flexible finance can have to small businesses. We’re working with businesses directly as well as via introducers and, as part of the BEF Group, it’s important to us that we’re supporting those in underserved areas – great businesses are everywhere, it’s just a matter of providing them with the tools and finance to help them grow.”
Simon Truby - Business Finance North West