Finance Yorkshire announces over £50m fund to aid SMEs across the region

Business financing company Finance Yorkshire pledges to support SMEs who may be struggling to find capital throughout Yorkshire and the Humber with a new fund.

The fund will be structured to provide SMEs with a range of support through seedcorn and growth fund (primarily equity) investments along with large and small business loans.

Finance Yorkshire chief executive Alex McWhirter said: “This new fund builds on the achievements of our previous fund, which successfully delivered on every level, enabling businesses to expand, create jobs and contribute to the growth of the regional economy.

“Access to finance remains a key challenge for companies wanting to realise their growth ambitions. Finance Yorkshire will continue to play its part in supporting businesses to grow and prosper.”

Finance Yorkshire chairman James Newman said: “Finance Yorkshire has a strong track record in supporting SME growth in Yorkshire and the Humber.

“The performance of our previous funds means we have generated a more than sufficient legacy to create this new fund and provide an additional route for businesses seeking finance for growth.”