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Cumbria LEP hosts Northern Powerhouse Investment Fund event for business growth

Businesses across Cumbria are being invited to attend a free business growth and networking event in Penrith on 14 September 2017 to see how the new £400m Northern Powerhouse Investment Fund (NPIF) could help them.

Organised by fund managers FW Capital, the Finance for Business Growth event, held at Cumbria Local Enterprise Partnership’s Penrith headquarters at Redhills, will feature presentations about NPIF  and panel discussions.

Delegates will also be able to meet with finance experts from FW Capital, as well as representatives from Maven Capital Partners, Business Finance Solutions, IGF Group and Napthens Solicitors.

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) to boost investment levels in the North of England. It will work alongside the LEPs and Growth Hubs, as well as local accountants, fund managers and banks, to provide a mix of debt and equity capital to SMEs at all stages in their development.

Cumbria Local Enterprise Partnership director Graham Haywood says:  “This is a valuable opportunity for businesses across Cumbria to come together and to find out more about the new Northern Powerhouse Investment Fund, how it works, and more importantly how it might support them with their plans for growth.

“They will be able to meet a range of experts whose roles are to help businesses at all stages of their development with a mix of debt and equity capital.  It will also be a good opportunity for networking.”

To book a place at the event, call 01768 213 074, email maria.ramsdale@fwcapital.co.uk or visit http://www.fwcapital.co.uk/news-and-features/events/finance-for-business-growth.aspx

FW Capital investment executive Maria Ramsdale adds:  “The Northern Powerhouse Investment Fund is designed to stimulate regional economic growth with a mix of finance options to complement existing business support activity.

“NPIF brings greater breadth and flexibility, with conventional loan, micro-finance and equity vehicles.  Our aim is to improve access to finance and offer wider opportunities and choice to support smaller businesses across the county.”

NPIF has been set up by the British Business Bank in conjunction with Cumbria Local Enterprise Partnership (LEP) and nine other LEPs across the North West, Yorkshire & Humber and Tees Valley.

Financed by the European Regional Development Fund (ERDF), the European Investment Bank (EIB) and the UK Government, NPIF aims to provide small and medium sized businesses with increased flexibility in the types of funding available. The fund was officially launched by former Northern Powerhouse Minister Andrew Percy at an event in Manchester earlier this year.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

For further information about Northern Powerhouse Investment Fund, please visit www.npif.co.uk

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