£40m Small Business Investment Fund Announced
Santander has partnered with Enterprise Ventures and Greater Manchester Pension Fund for launch of loans to fuel small business growth
A £40m investment fund for small and medium enterprises has been launched by Santander in partnership with Enterprise Ventures and the Greater Manchester Pension Fund.
The ‘Enterprise Ventures SME Loans’ fund will be announced today and is to be made available to small and medium businesses in any sector throughout the UK, with the goal to fuel small business growth.
Funding of up to £1m will be provided to small and medium enterprises which have been trading for over three years and have a turnover of between £100,000 and £1m.
Enterprise Ventures chief executive, Jonathan Diggines, commented:
“Enterprise Ventures SME Loans represents a significant new institutional source of investment into the small and medium enterprise market, one which is not subject to the constraints of other government and European funds.
“We recognise the important role that small businesses play in providing services and employment within local communities, developing new ideas and technologies, and strengthening regional economies.”