The Midlands Engine Investment Fund II, supported by the European Regional Development Fund, provides commercially focussed finance through Small Business Loans, Debt Finance, and Equity Finance funds.
Funding
The Midlands Engine Investment Fund II will deliver £400 million of new funding to small and medium-sized businesses across the Midlands.
The fund aims to build on the success of the first Midlands Engine Investment Fund and will drive sustainable economic growth by supporting innovation and creating opportunities for new and growing businesses in the Midlands.
The Midlands Engine Investment Fund II offers a range of commercial finance options with debt finance from £25,000 to £2 million and equity investment up to £5 million. The fund covers the whole of Midlands, including the West Midlands, East Midlands and South East Midlands.
The Midlands Engine Investment Fund II is increasing the supply and diversity of early-stage finance for smaller businesses across the Midlands, providing funds to businesses that might otherwise not receive investment and helping to break down barriers in access to finance
The new fund has embedded Environmental, Social and Governance (ESG) awareness into its design and will help support the UK economy’s transition to Net Zero.
Funds available
- Smaller loans – £25,000 to £100,000: Whether you are an entrepreneur wishing to start your own business, or an early-stage or more established small business looking to grow, you may find it difficult obtaining the finance you need. Smaller loans can be used to fill the funding gap for growth and development projects.
- Debt finance – £100,000 to £2 million: As small businesses grow, large injections of capital are often needed to move them to the next level. The Midlands Engine Investment Fund II could help smaller business owners to deliver their business ambitions, as our debt finance option is designed for smaller companies that can demonstrate growth potential.
- Equity finance – up to £5 million: Equity finance can be particularly important for new and innovative companies with high growth potential as it can provide long-term backing to fund business growth through to revenue and profit. In simple terms, equity finance is raising capital through the sale of shares in a business.
How do I apply for funding?
Enquiries and applications are made direct to MEIF II’s selected fund managers. MEIF II cannot provide financial or business advice to businesses seeking funding and businesses may wish to engage their own accountant or business adviser if application assistance is required.
Where do I need to be based to apply for a MEIF II investment?
MEIF II covers the whole of the Midlands, including the West Midlands, East Midlands and South West Midlands. Investments can be made in businesses that are headquartered in the Midlands or have a significant operating presence there.