Established businesses throughout the North West have benefited from over £51m of investment since 2011, thanks to The North West Fund for Loans Plus, creating or safeguarding over 1,700 jobs.
Fund Manager FW Capital has lent over £35m to nearly 200 businesses in the region, attracting an additional £16m of private sector investment.
Commenting on the long-term impact of the loans, FW Capital fund manager Gary Guest (pictured) said: “This is a significant milestone both for the businesses we’ve invested in as well as the economy of the North West.
“We’ve met some hard-working and successful business owners in every county of the North West over the last five years.
“Our loans are providing these business owners with the backing they need to build and expand their businesses.
“These businesses are already making a significant contribution to the region’s prosperity and I’m confident they’ll continue playing a key role in its future growth.”
The North West Fund for Loans Plus can lend between £50,000 and £750,000 to established small and medium-sized businesses in a range of sectors across the North West to help with a wide range of growth funding challenges.
The Fund is part of the £155m North West Fund, which is backed by the European Regional Development Fund and the European Investment Bank.
FW Capital is a fund management company currently managing UK-based funds over £70m.
In the North West, the company manages the £45m North West Fund for Loans Plus.