Finance Yorkshire


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Presentation about the Yorkshire Jeremie Funds which are known as Finance Yorkshire

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Finance Yorkshire

  1. 1. finance 4 business Finance Yorkshire Funds
  2. 2. Finance Yorkshrie Fund what is it? <ul><li>Finance Yorkshire is a JEREMIE fund (Joint European Resources for Micro to Medium Enterprises Initiative) it is the second Jeremie fund to be launched in England following the one launched in the North East </li></ul><ul><li>Improve access to finance for micro business and SMEs in the regions of the EU </li></ul><ul><li>Fund financed by the European Regional Development Fund and Yorkshire Forward </li></ul><ul><li>Comprises three individual funds </li></ul>finance 4 business
  3. 3. Criteria <ul><li>SMEs </li></ul><ul><li>Businesses paying rates in the Yorkshire and Humber region or re-locating to that region. </li></ul><ul><li>Viable business proposition with ability to make returns to the fund   </li></ul><ul><li>EC rules restrict aid to certain sectors: </li></ul><ul><li>steel industry, coal, synthetic fibres, primary agriculture, fisheries and ship building. </li></ul>finance 4 business
  4. 4. Yorkshire & Humber Region finance 4 business
  5. 5. Seedcorn Finance <ul><li>The Seedcorn Fund aims to back early stage technology-based ventures which have the potential to become “beacon companies” for the region. </li></ul><ul><li>The fund fills a gap in the local finance market for ventures that are often seen as too risky for mainstream providers or which require more hands-on support from a specialist investor. </li></ul><ul><li>Clients will be companies that are based on new and innovative technology with ideas that have strong potential and once in the market, are capable of rapid growth and returns of many multiples of their original investment. </li></ul><ul><li>The fund can provide investment from £15k to £780k over the lifetime of those companies that show the most commercial potential. We also provide specialist support to those growing businesses in return for a share of the eventual returns. </li></ul>finance 4 business
  6. 6. Business Loans <ul><li>Finance Yorkshire provide typically unsecured loans ranging from £15k to £50k for early stage businesses, and from £15k to £150k for established and profitable businesses. </li></ul><ul><li>Finance Yorkshire business loans are available for a wide range of purposes including working capital, expansion projects, management buy-outs, commercial premises and asset acquisitions. </li></ul><ul><li>The gross interest rate charged on all loans provided by the Small Business Fund is 12% fixed. </li></ul><ul><li>Rebates will be based on the following risk categories: </li></ul><ul><li>Established - 4% rebate/net 8%. Established 3 years trading. </li></ul><ul><li>Early Stage - 2% rebate/net 10%. Early stage less than 3 years trading </li></ul>finance 4 business
  7. 7. Equity Linked Investments <ul><li>Finance Yorkshire provides equity linked investments from £100k to £2m and mezzanine loans (with equity options or redemption premiums) from £100k to £1m. </li></ul><ul><li>Able to offer a mix of both loan and equity linked investments we are looking to back businesses, management teams and entrepreneurs who are seeking an investment of up to £2m. </li></ul><ul><li>Can also invest in much larger transactions alongside other finance providers. </li></ul><ul><li>The size of the equity share will depend on a number of factors including the size of the investment, the perceived level of risk and the valuation of the company. </li></ul><ul><li>The fund may appoint a non executive director to work with the company. </li></ul>finance 4 business
  8. 8. Our service, How we can help? <ul><li>Assistance to ensure that your application has its best chance of success. </li></ul><ul><li>Assessing the project for fund suitability and which fund is most appropriate. </li></ul><ul><li>Discussing the project with the funding providers. </li></ul><ul><li>Preparation of application forms and supplementary information (including business plan and financial forecasts) required by the fund. </li></ul><ul><li>Submitting applications to the fund and attending meetings with that body re the project as required. </li></ul><ul><li>We have regular discussions with fund awarding bodies so we know what they are looking for in an application. </li></ul>finance 4 business
  9. 9. contact details <ul><li>Richard Watts </li></ul><ul><li>telephone: 07872 033804 </li></ul><ul><li>e-mail: </li></ul><ul><li> </li></ul><ul><li>offices cover Yorkshire, Humberside and the North East </li></ul><ul><li>administration address: </li></ul><ul><li>10 Corby Park </li></ul><ul><li>North Ferriby </li></ul><ul><li>East Yorkshire </li></ul><ul><li>HU14 3BA </li></ul>finance 4 business