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Back to News First Enterprise Team

12th December 2018

Enterprise Loans invests £2 million into local economy

BUSINESS support and funding provider Enterprise Loans East Midlands (ELEM) has invested more than £2 million pounds into the economy after being awarded its largest ever funding pot by the BritishBusiness Bank last year.

Enterprise Loans successfully won a competitive tender for the Midlands EngineInvestment Fund (MEIF) – delivered by the British Business Bank – to provide loans of between £25,000 to £150,000to support the growth ambitions of businesses across the East and South EastMidlands region.

Since September 2017 the ethical loan provider has lent £1,172,500 from the MEIF and £967,500 from ELEM funding, resulting in an impressive £2,140,000 being pumped into the local economy. This funding has supported 26 businesses and created or safeguarded 231 jobs.

Neil Millington, loan fund manager at Enterprise Loans, said: “Thanks to the MEIF funding we’ve been able to support even more fantastic businesses and budding entrepreneurs across a number of sectors. Small businesses are the backbone of this country and we’re passionate about helping people to grow and develop their companies.

“It’s more apparent than ever that Midlands’ businesses need support to flourish. Whether they need funding and advice or help getting started, investing in new premises or equipment, we are here to support them.”

Grant Peggie, Director atBritish Business Bank commented; “We’re delighted to see Enterprise Loans reach this milestone figure of investments made, successfully deploying small business loans across the East and South East Midlands. Increasing the opportunities available to smaller businesses looking to scale-up is exactly what the fund was set up to do and we would encourage other small growing businesses to consider applying for funding.”

The MEIF project is supported financially by the European Union using funding from the ERDF as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.For more information on Enterprise Loans visit www.first-enterprise.co.uk or follow @1st_Enterprise on Twitter. For further information on the MEIF please visit www.meif.co.uk or follow @MidsEngInv.

Follow @midsenginv

Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
MidsEngInv photo

Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
MidsEngInv photo

#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
MidsEngInv photo
Find Out More

If you would like to meet with one of our appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area

small business loans

Small Business Loans

£25k – £150k

Small Business Loans page
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debt finance

Debt Finance

£100k – £1.5m

Debt Finance page
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equity finance

Equity Finance

£50k – £2m

Equity Finance page
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proof of concept

Proof of Concept

Up to £750,000

Proof of Concept page
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Follow @midsenginv

Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
MidsEngInv photo

Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
MidsEngInv photo

#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
MidsEngInv photo

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