Mercia Surpasses £5m in NPIF II Debt Funding

Mercia Fund Management, operating as Mercia Ventures, has achieved a significant milestone by dispensing over £5 million in debt finance through the Northern Powerhouse Investment Fund II (NPIF II). Since the fund's inception earlier this year, Mercia has provided £5.5 million in business loans to 17 companies spanning diverse sectors, primarily based in the Yorkshire and Humber region. This regionally-focused initiative offers loans ranging from £100,000 to £2 million, catering to companies in need of financial support that might otherwise struggle to secure it. The fund is a continuation of the successful NPIF I, where Mercia administered over £77 million to about 300 companies. The new iteration not only expands this support with larger loan limits but also enhances flexibility across various business sectors, encouraging a wider range of entrepreneurial involvement. As businesses in the North access these crucial funds, Mercia's efforts signify a substantial economic boost for small and medium enterprises (SMEs) by directly contributing to their growth and sustainability. The fund continues to attract interest, with a diverse spectrum of businesses seeking opportunities for expansion, emphasizing the role of debt funding in regional economic development. This initiative aligns with the Northern Powerhouse's overarching goal to stimulate economic innovation and opportunity across the North of England.