FW Capital celebrates Northern Powerhouse investment fund milestone

From left: Adam Husband and Michael Howard

FW Capital has invested in 100 SMEs through NPIF-FW Capital Debt Finance, part of the Northern Powerhouse Investment Fund (NPIF), according to the latest figures.

One hundred SMEs from across the NPIF region, which includes the North West and Tees Valley, have been supported with loans of between £100,000 and £750,000, which has helped boost business growth across the area.

One company that has benefited is Manchester-based property management business Urbanbubble.

The firm, which manages more than 8,000 properties across 90 residential schemes predominantly in the Manchester and Liverpool areas, secured a £400,000 investment.

The capital was used to support growth plans through investment in people, systems and processes to ensure strong operational structures.

Michael Howard, Urbanbubble managing director, said: “We’re really pleased to have received investment from the Northern Powerhouse Investment Fund.

“FW Capital provided a quick and efficient service and we are grateful to them for supporting our further expansion.”

Gary Guest, fund manager at FW Capital North West, said: “We are thrilled to have reached this important milestone and we look forward to continuing to invest in our region’s SMEs.

“The right support and funding can be a game-changer for a business.

“We have plenty of cash available to help and support ambitious growth plans and can invest alongside other funders to maximise the impact.

“Our message to Northern business owners is to contact us today and see how we can work together.”

Grant Peggie, director at British Business Bank, said: “Businesses across the North are taking advantage of the funding available to them through NPIF-FW Capital Debt Finance.

“The fund has made incredible progress since NPIF’s launch in 2017, having helped 100 companies to grow.

“We hope to continue this momentum, in partnership with our fund managers, including FW Capital.”

Operating from the British Business Bank’s Sheffield head office, the Northern Powerhouse Investment Fund provides a mix of debt and equity funding of between £25,000 and £2m.

It works alongside 10 Local Enterprise Partnerships (LEPs), the combined authorities and Growth Hubs, as well as local accountants, fund managers and banks, to support Northern-based SMEs at all stages of their development.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.