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Private Investors

Midlands Engine Development Fund

What is the Midlands Engine Investment Fund?

The Midlands Engine Investment Fund (MEIF), supported by the European Regional Development Fund, provides commercially focussed finance through Small Business Loans, Debt Finance, Proof of concept and Equity Finance funds.

The Midlands Engine Investment Fund aims to transform the finance landscape for smaller businesses in the Midlands and to realise the region’s potential to achieve economic growth through enterprise.

MEIF is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the West Midlands and East and South East Midlands.

MEIF provides over £250m of investment to boost small and medium business (SME) growth in the Midlands.

If your business is located in the Midlands and you are looking to scale up, select one of the funding options from the below website to see how the fund can help.

https://www.meif.co.uk/


UK Steel Enterprise

UK Steel Enterprise UK Steel Enterprise is a subsidiary of Tata Steel (formerly Corus Group) that provides finance to growing companies in steel areas such as Stoke-on-Trent and the Black Country.

Business finance: what is available?

  • Equity based investments of up to £750,000 for growing businesses, management buy-outs, buy-ins, acquisitions of other businesses etc.
  • Loans from £25,000 at fixed interest rates, usually unsecured.
  • EFG loans for eligible businesses.
  • Grants alongside the above finance for those companies creating jobs who meet the Regional Growth Fund criteria.

Criteria
The fund's primary focus is successful growing companies which meet the following criteria:

Location: located in Stoke-on-Trent, Newcastle, Keele or the Black Country – including Wolverhampton, Dudley, West Bromwich, Stourbridge, Halesowen and the area covered by the four councils of Wolverhampton, Dudley, Sandwell and Walsall. 

Sector: operating in manufacturing, industrial service, technology or other B2B sectors (not necessarily steel related)

Purpose of funding: can include new equipment, working capital, relocation, MBO, MBI, acquisition or to develop a new business.

Loans:

  • Security or personal guarantees rarely required
  • Interest rates are competitive and fixed for the term of the loan

Equity investments:

  • Leave control with company management.
  • Don’t insist on an exit deadline.
  • Don’t impose penalty clauses.

How to apply

Please call on 0800 915 1188 in the first instance to ensure that the location and type of business is one that can be considered.

Contacts: Keith Williams 0776 7788475 & Allan Wood 0776 4362928.
For more information visit www.uksteelenterprise.co.uk/.