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In this series Kirsty Davey, Head of Coodes’ Corporate and Commercial team, has invited funders to provide more details about the opportunities available in the region.
In this second instalment of the series, Brent Treloar takes us through the new South West Investment Fund (SWIF) launched by the British Business Bank. The fund is a £200 million pound scheme to support the growth of SMEs across the region.
The FSE Group is a socially responsible Community Interest Company (C.I.C.). We have been providing high-growth small and medium enterprises (SMEs) with accessible market-gap funding since 2002.
We work with stakeholders and partners across the UK, including British Business Bank, Funding Yorkshire, Funding London, and Local Enterprise Partnerships. Together, we deliver regional funding that supports job creation and economic prosperity.
Since 2018, FSE has been the appointed fund manager for the Cornwall & Isles of Scilly Investment Fund (CIOSIF). During that time we have: invested over £22 million to support the growth of more than 60 businesses, created or safeguarded almost 1,000 jobs and attracted a further £83 million of private investment into the businesses they have supported.
As CIOSIF comes to a close at the end of 2023, the £200 million South West Investment Fund (SWIF) has recently been launched by the British Business Bank. This will provide a range of commercial finance options to growing businesses across the whole of the South West region.
The South West Investment Fund offers loans from £25,000 to £2 million and equity investment up to £5 million. The new fund covers the entire South West region including Bristol, Cornwall and the Isles of Scilly, Devon, Dorset, Gloucestershire, Somerset, and Wiltshire.
At FSE we’re managing the debt finance and equity finance part of the fund (some £70m) for Cornwall & Isles of Scilly, Devon, Dorset, and Somerset (excluding North and North East Somerset). We are able to provide loans from £100,000 to £2 million, and equity investments up to £5 million.
The small loans part of the fund, from £25,000 to £100,000, is being managed by SWIG Finance across the region.
The funding can be used for a range of activities to support a business on its growth journey including: entering new markets, hiring new staff, increasing market penetration, exporting abroad, sales & marketing activity, purchasing new equipment, new product development and moving to new premises.
In the businesses we support, we’re looking for a committed management team with relevant background/experience. We’re also looking for a proven business concept with compelling commercial potential and competitive advantage. Businesses must be able to demonstrate how the funding will drive growth.
With a focus on business potential rather than security available, we provide dedicated Investment managers. These managers will seek to build enduring relationships with customers. We also provide post-investment assistance to fully support the management teams we work with.
FSE Group are an inclusive lender. We’re looking to work with business owners from all backgrounds across the areas they cover, including more remote locations.
This range of funds are driven by an economic impact rationale and are not purely focused on commercial return. FSE is committed to supporting in the long-term, sustainable businesses that will grow, provide employment and generate economic benefit in an environmentally and socially responsible manner.
You can find more information about the fund here and the FSE Group here.
To find out more, you can contact Brent Treloar via email at brent.treloar@thefsegroup.com or phone 07534 381045.
For all your legal advice when it comes to growing your business, speak to Coodes’ corporate and commercial team. Visit www.coodes.co.uk or call 0800 328 3282. The information in this article does not constitute financial advice or recommendation and should not be considered as such.
Head of Corporate & Commercial
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