British Business Bank launches the First Tranche of the Midlands Engine Investment Fund

The Midlands

Author Morwen (Abigail Brady)

Licence Creative Commons Attribution Share Alike 3.0 unported
Source Wilipedia

Jane Lambert

The Midlands Engine Investment Fund ("MEIF") is a joint initiative between the government owned British Business Bank and a number of local enterprise partnerships ("LEPs") in the West and East Midlands. The participating LEPs from the West Midlands are the Black Country, Coventry & Warwickshire, Greater Birmingham & Solihull, Stoke-on-Trent and Staffordshire, The Marches, and Worcestershire Local Enterprise Partnerships. The Bank hopes to make £250 million available to small and medium enterprises ("SME") in the Midlands Engine area through debt finance, small business loans, proof of concept and equity finance funds in amounts ranging from £25,000 to £2 million.

Today the Bank announced the launch of its £150 million debt finance funding scheme which is the first tranche of the £250 million (see the British Business Bank's press release British Business Bank launches first £120 tranche of Midlands Engine Investment Fund 29 Aug 2017).  Also today, the Bank published Spotlight: The Midlands Engine Investment Fund which surveys the Midlands Engine area economic and funding landscape.

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