Finance Yorkshire receives European funding

Finance Yorkshire has announced further support from the European Regional Development Agency (ERDF) and match funders.

Earlier in the year the regional funding organisation received £10m in round six of the Regional Growth Fund.

To date, Finance Yorkshire has made 694 investments in SMEs across the region, creating and ‘safeguarding’ 9,240 jobs and increasing overall turnover by £265m.

This impact will increase, as new investments are completed during 2015.

Finance Yorkshire Chief Executive Alex McWhirter said: “Finance Yorkshire reached a milestone when it invested £90m at the end of 2014. New investment capital means that it is business as usual for Finance Yorkshire – we will continue to invest in SMEs and build on our success to date in helping to create jobs and facilitate sustainable growth across the region.

“The economic impact of our investments has been significant and we look forward to receiving enquiries and continuing our work with intermediaries to highlight the investment opportunities available and the huge value our fund brings to businesses seeking access to finance.”

James Newman, chairman of Finance Yorkshire, said: “Finance Yorkshire has done an outstanding job in supporting businesses to invest, grow and create jobs. Access to finance remains one of the biggest challenges for SMEs and Finance Yorkshire’s commitment to continued investment is a real boost to the regional economy.”

Finance Yorkshire will continue to provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2m.