Finance Yorkshire

Launching in the Spring of 2010, Finance Yorkshire is a new £90million fund set up to provide businesses across the Yorkshire and Humber region with funding to start and grow.

The Fund will provide seedcorn, loan and equity investments ranging from £15,000 and £2million, to help small and medium businesses raise the funding they need alongside investment from the commercial market.

For the first time Finance Yorkshire provides region wide access to finance for all qualifying businesses. Through working with financial intermediaries, other lenders and investors Finance Yorkshire will make deals happen.

The Fund has been created using investment from Yorkshire Forward, ERDF from the European Union and the European Investment Bank. It will provide seedcorn finance, business loans and equity linked investments and can back eligible businesses through critical stages of growth from start-up through to major expansion.

Finance Yorkshire can also work alongside other finance providers such as banks, and other lenders and can help put together a finance package to meet your needs.

Seedcorn Finance: £15k to £780k

The Seedcorn Fund aims to back early stage technology-based ventures which have the potential to become “beacon companies” for the region. The fund fills a gap in the local finance market for ventures that are often seen as too risky for mainstream providers or which require more hands-on support from a specialist investor. Clients will be companies that are based on new and innovative technology with ideas that have strong potential and once in the market, are capable of rapid growth and returns of many multiples of their original investment. The fund can provide investment from £15k to £780k over the lifetime of those companies that show the most commercial potential. They can also provide specialist support to those growing businesses in return for a share of the eventual returns.

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Business Loans: £15k to £150k

Finance Yorkshire provide typically unsecured loans ranging from £15k to £50k for early stage businesses, and from £15k to £150k for established and profitable businesses. Finance Yorkshire business loans are available for a wide range of purposes including working capital, expansion projects, management buy-outs, commercial premises and asset acquisitions.

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Equity Linked Investments: £100k to £2m

Finance Yorkshire also provides equity linked investments from £100k to £2m and mezzanine loans (with equity options or redemption premiums) from £100k to £1m. They can offer a mix of both loan and equity linked investments and will look to back businesses, management teams and entrepreneurs who are seeking an investment of up to £2m. The size of the equity share will depend on a number of factors including the size of the investment, the perceived level of risk and the valuation of the company. As they will be shareholders, they will have a vested interest in ensuring that the company succeeds.

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