British Business Bank Northern Powerhouse Investment Fund II

The Northern Powerhouse Investment Fund II will deliver a £660 million commitment of new funding to smaller businesses across the North of England. The fund offers a range of commercial finance options including smaller loans and debt finance from £25,000 to £2 million and equity investment up to £5 million. It covers the whole of the North of England, including rural, coastal and urban areas in North East England, North West England, and Yorkshire and the Humber. The fund is designed to increase the supply and diversity of early-stage finance for smaller businesses across the North of England, providing funds to businesses that might otherwise not receive investment and helping to break down barriers in access to finance. It has embedded ESG awareness into its design and will help support the UK economy's transition to net zero. Three types of funding are available: Smaller Loans (£25k-£100k) to fill the funding gap for growth and development projects; Debt Finance (£100k-£2m) designed for smaller companies that can demonstrate growth potential; and Equity Finance (up to £5 million) for established businesses with ambitious plans, or large start ups with high growth potential.