Alternative finance firm reveals £50m Midlands fund

Greg Carter
X The Business Desk

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Alternative finance provider Growth Street has revealed plans to inject £50m into Midlands businesses over the next 12 months.

The announcement comes as Growth Street targets several key sectors for 2018, including manufacturing, wholesale and professional services.

Chief executive, Greg Carter, said: “The Midlands is a UK manufacturing powerhouse, and we want to ensure that SMEs from across the region are able to fulfil their potential with an investment boost.

“SMEs in the Midlands face an estimated £360m funding gap, and we are looking to contribute to closing this gap in the coming months.

“UK SMEs are working in uncertain times. With Brexit fast approaching, we believe that more than ever businesses need access to flexible finance, which can help mitigate risks as well as allowing fast-moving businesses to take advantage of opportunities.

“At Growth Street, we’re on a mission to not only give businesses access to this finance, but to provide the tools that will help take growing manufacturers in the Midlands to the next level.”