The Northern Powerhouse Investment Fund II aims to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England.
The Northern Powerhouse Investment Fund II offers a range of commercial finance options with smaller loans and debt finance from £25,000 to £2 million and equity investment up to £5 million. The fund covers the whole of the North, including rural, coastal and urban areas.
Whether you are an entrepreneur wishing to start your own business, an early stage business, or more established small business looking to grow you may find it difficult obtaining the finance you need. Smaller loans can be used to fill the funding gap for growth and development projects.
We deliver NPIF II Smaller Loans to businesses across the cities, towns, and coastal regions of Yorkshire and the Humber. This includes:
"Our partnership with BEF has been instrumental in realising our growth aspirations. This NPIF loan has empowered us to better serve our community and expand our horizons.
- Tomas Oppedal, The Eye Store, Leeds
Take the first step towards filling your funding gap and unlocking your business's potential. Enquire about a NPIF II Smaller Loan today. It only takes one minute.
If you can't find your question here, please reach out to us.
The Northern Powerhouse Investment Fund II (NPIF II) will deliver a £660m commitment of new funding through investment strategies designed to meet the needs of the businesses in the North of England. NPIF II aims to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. NPIF II will increase the supply and diversity of early-stage finance for smaller businesses in the North, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
The first Northern Powerhouse Investment Fund was launched in February 2017 and finished its investment phase in December 2023, having facilitated over £1bn of direct and private sector co-investment. The Northern Powerhouse Investment Fund II is the next iteration of the Fund which is larger in size and has been expanded to include the whole of the North East.
The funding option sizes have also been increased with Debt Finance now available up to £2m and Equity Finance now available up to £5m.
Yes, a company who received funding from NPIF can apply for NPIF II finance. Submit an enquiry today.
NPIF II covers the whole of the North of England, including rural, coastal and urban areas. Investments can be made in businesses that are headquartered in Yorkshire or the Humber, or have a significant operating presence there.
NPIF II has been designed to help address market failures by increasing the supply and diversity of early-stage finance for UK smaller businesses, providing funds to firms that might otherwise not receive investment. The product funds that NPIF II supports provide commercially focussed funding to businesses across the North. NPIF II’s product funds can invest alone or alongside other funders, and indeed NPIF II fund managers are encouraged to leverage-in additional private capital.
NPIF II’s product funds can invest alone or alongside other sources of debt or equity capital where appropriate.
Yes, you can still apply for NPIF funding if your company has received a BBLS or CBILS backed loan.
NPIF II will have an inclusive approach, but some eligibility criteria do apply to NPIF II funding. Contact us for advise on suitability.
Generally, the process from application to decision takes 2-3 weeks, depending on the loan's complexity and how quickly you provide all necessary documents. Your investment manager can offer more detailed information on this.
To apply for a NPIF II Smaller Loan, simply complete our enquiry form. A member of our Investment Team will respond within two working days.
We use Open Banking to help us make a decision to lend. To fast track a decision, you must grant access to your financial data using our Open Banking portal: https://connect.consents.online/BEFcommercial.
Choose between fixed or variable rate finance, covering up to 100% of your funding needs.
We don't do impersonal letters or automated phone services - every client gets connected with a real member of our team.
We see each client as a unique individual, and we evaluate their business in the same personalised manner.
Our loans are open to all sectors and are crafted to meet your specific needs.
Various repayment options are available.
Here's how to apply. If you need assistance, feel free to email us anytime.
Tell us a bit about what you need for your loan. It only takes a minute to fill out. If we can help with your loan, we'll send you a link to a special application form.
Here's where you get into the details of your business. The questions are easy to understand and meant to help us figure out what you need. You'll also need to share some financial info using Open Banking.
We don't make decisions based on computer programs! At this stage, we might need a bit more information from you; your personal Investment Manager will reach out to you.
If your application is approved, it's time to go! We'll transfer the funds to your account, and you can start using them immediately. If your application is unsuccessful, we'll try to give you feedback and advice to help you move forward.
Our clients tell the story best, see how our loans helped them.
"Throughout our journey so far, we have turned to BEF first for our funding requirements."
