This will build on the success of the first Northern Powerhouse Investment Fund.
The fund — which now includes the whole of the Northeast — aims to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England.
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The Northern Powerhouse Investment Fund II offers a range of commercial finance options with smaller loans and debt finance from £25,000 to £2m, and equity investment up to £5m.
The fund covers the whole of the North, including rural, coastal and urban areas.
It is increasing the supply and diversity of early-stage finance for smaller businesses across the North of England, providing funds to businesses that might otherwise not receive investment and helping to break down barriers in access to finance.
There is also ESG awareness embedded into its design and will help support the UK economy’s transition to net zero.
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