Alternative Finance Options

Contacts - Patrick Loye; e: ploye@wakefield.gov.uk;  Marianne Hawksworth; e: mhawksworth@wakefield.gov.uk

Northern Powerhouse Investment Fund

New additional funding to assist growth businesses in Yorkshire and Humberside.

  • Micro finance: £25k – £100k Small business loans for new or growing businesses to support working capital.               
  • Debt finance: £100k - £750k Business Loans which will require security for early stage or more established businesses that can demonstrate growth potential.                                                                             
  • Equity finance: £50k - £2m Early and later stage equity funding.  For established businesses with ambitious plans or large Start-ups with high growth potential.                                                                                       

The NPIF will not directly invest in business but will signpost sub fund managers to deliver the various levels of funding by area. NPIF has funding via the LEP too.

Growing Places Fund

  • Part of the growth fund aimed at providing infrastructure loans to businesses developing their own sites and may have a funding gap. Up to £6m available on a first come first served basis.
  • Loans between £500k to £1m. Loan interest depends on the strength of the business and financials.

Finpoint

  • A business finance platform to help SMEs to find the right finance for their circumstances.
  • Finpoint can help prepare a single finance application to cover 80 different platforms.
  • Business loans- flexible ways to fund growth projects.
  • Leasing or Hire Purchase- subject to tax position of the business may be more cost effective to lease.
  • Invoice and Trade finance- improve cash flow plus useful for import/export businesses.