There's still money available for firms to grow.
That is the message from regional development agency Yorkshire Forward.
It says that despite the credit crunch finance is still available to help businesses.
Two major regional funds – Partnership Investment Finance (PIF) and South Yorkshire In
vestment Fund (SYIF) – continue to make investments in Yorkshire and Humber businesses that want to expand or enter new markets, and who are not eligible for funding through traditional routes. Alex McWhirter, head of enterprise at Yorkshire Forward, says: "In the current economic climate businesses are finding it harder to raise the finance they need to expand or enter new markets.
"Our job is not to step on the toes of the traditional finance market, but to address the gaps they are unable to fill.
"Both SYIF and PIF provide excellent platforms for loans and equity-linked investments and can support companies across the Yorkshire and Humber region."
PIF, which covers North and West Yorkshire, the Humber and North and North East Lincolnshire, has almost £11m of its £37m funding pot available for investment before the end of this year.
PIF can assist eligible businesses looking for loans and investments ranging from £3,000 to £1.5m.
So far, PIF has helped 440 small and medium-sized enterprises with gap funding, ranging from micro businesses employing one or two people in business to business activities such as outside catering and IT support, to a major employer in the region with more than 200 employees working in import and export logistics.
Yorkshire Forward recently made a further £4 million available to South Yorkshire Investment Fund to meet the demand of its south Yorkshire clients.
The full article contains 285 words and appears in Evening Courier newspaper.
