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The Finance for Business North East Microloan Fund has £2 million left to invest into small businesses and start-ups looking for simple loans to start or build their operations. The £6.5m Fund has until the end of December 2015 to invest the remaining money available, under new management, Rivers Loan, a trading subsidiary of Rivers Capital Partners. The Fund is designed to rejuvenate the region’s small businesses, supporting the creation and securement of jobs within the North East. The Fund supports small businesses and start-ups looking for simple loans to start or build their operations.
Having already invested into a diverse range of sectors, here are two case studies of Rivers Loan’s most recent investments made by the Microloan Fund to see the variety of projects Rivers provides funding for.
Case Study: Eminent Engineering
Northumberland-based Eminent Engineering specialises in bespoke metal work for blue chip construction companies. The £25,000 funding will assist the company in purchasing a new plant and upgrading their machinery. Their aim is to increase turnover to £850,000 in 2017 and create 6 new jobs in an area that has been hit by large scale company closures.
Case Study: Cogiva
Whitley bay-based technical development company Cogiva provides bespoke digital solutions to small business taking a holistic approach when working with their clients, choosing to partner with the business. The £10,000 funding allowed Cogiva to grow their team, upgrade their technology and expand their business.
For more information please contact. E:firstname.lastname@example.org, W: www.riversloan.com, T: 01642 903 902/ 0191 230 6370, t: @RiversCapital
The North East Microloan Fund is managed by Rivers Loan Ltd, a trading subsidiary of Rivers Capital Partners Ltd that are authorised and regulated by the Financial Conduct Authority (FCA no: 519469).