MSIF loan fund backs 132 businesses

THE Merseyside Special Investment Fund (MSIF) has fully invested a £3.9m loan fund aimed at supporting small businesses.

In a statement the fund said it had backed 132 businesses including 53 start-up companies and also reached its target of investing £1.8m in businesses using technology, innovation or new ways of working.

The fund has been managing the Small Loans for Business Fund on behalf of the Department for Business, Innovation and Skills.

It will continue to manage the legacy returns and has also raised a new fund which it will launch later in the month. It will also target start-ups and be able to support companies operating in the retail sector.

MSIF investment director Chris Walters said: “The full investment of this fund highlights the demand for an alternative source of finance for businesses. Start-ups particularly need support because it is very difficult to get funding elsewhere.”

MSIF currently manages three funds: The Merseyside Loan & Equity Fund provides loan and equity finance from £50,000 to £2m, the Small Loans Fund which provides loans from £3,000 to £50,000 and the Start-up Loans Programme which is aimed at helping 18–30-year-olds into business.