Investment group looking out for new firms
The North East’s longeststanding business investor is looking to further increase the number of regional firms it works with.
NEL Fund Managers has been confirmed as an accredited provider for the Government’s new Recovery Loan Scheme (RLS).
It has been accredited by the British Business Bank to provide loans of between £25,000 and £250,000 to regional businesses that have been adversely affected by the Covid-19 pandemic.
The Recovery Loan Scheme is scheduled to run until the end of the year and is designed to help businesses of any size across most industry sectors access loans and other kinds of finance, as they recover and grow after the pandemic.
The loans complement the growth capital investments that NEL already makes across the region.
Dr Yvonne Gale, chief executive at NEL Fund Managers, said: “The funding we’ve been able to provide through the Coronavirus Business Interruption Loan Scheme has made a significant difference to the future prospects of many North East firms.
"And we’re expecting the Recovery Loan Scheme to have a similar impact.
“As well as enhancing their cash flow, businesses will also be able to access the advice and guidance provided by our expert team.
"Both as they develop their applications and after they’ve received their investments.
“We’re keen to talk to more regional firms to help them grow.”
For more information about NEL’s investment criteria, visit its website at www.nel.co.uk or contact the investment team on 0845 111 1850.