Finance Birmingham secures £5m for six companies in three months
FIGURES released today show that Finance Birmingham has helped six companies secure almost £5m in funding over the last three months.
And the organisation says it will complete a further £7m worth of deals by end of the year.
Finance Birmingham holds funds designed to help companies across a broad range of sectors to grow and create jobs, including money from the Government’s Regional Growth Fund.
The funding secured in the last three months has helped create more than 131 jobs and safeguard a further 116. The six companies supported include retail design firm Green Room, commercial lighting specialist, Lightsense UK, and property maintenance business Nationwide Property Assistance.
Finance Birmingham says the deals it expects to complete before the end of the year will create and safeguard another 409 jobs.
Sue Summers, chief executive of Finance Birmingham, said: “We have had a phenomenal run of funding deals in the last few months, building on our success in securing flexible funds and a number of new appointments to the team.
“While Finance Birmingham’s focus has traditionally been on supporting local companies, our track record and growing expertise is seeing us entrusted with national funds, meaning we are now able to support businesses across England.
“We expect to help many more companies grow before the year is out.”
With almost £0.5bn worth of funds now under management, Finance Birmingham has grown its funding base significantly over the last year.
It is now the Government’s leading delivery partner for the national Advanced Manufacturing Supply Chain Initiative (AMSCI). This initiative is a funding competition designed to improve the global competitiveness of UK advanced manufacturing supply chains.
Finance Birmingham currently manages £300m in funding for the scheme.
Andy Street, chair of the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP), which provides funds to Finance Birmingham, said: “Using initial public funds, Finance Birmingham has worked on behalf of the GBSLEP with partners across the wider region, including the Black Country and Coventry & Warwickshire LEP, to unlock private sector investment and ensure the businesses that will drive our regional economy in the years to come are supported.”
