North East Development fund

About the Fund

The North East Development Capital Fund provides growth capital to support the growth ambitions of dynamic and innovative SMEs across North East England, including developing new products, entering new markets, and/or expanding their current operations.

Why choose our funding?

The Fund has no sectoral bias and provides a comprehensive range of flexible funding solutions which can be tailored to the specific needs of the business.

Whether you require debt funding, an equity investment, or perhaps a hybrid of the two in the form of a mezzanine loan, the NEDCF has options available to help management teams drive expansion and execute their business plans. Combined with the strategic and operational support Maven's experienced investment team can provide, NEDCF investment could be the right solution for your business.

The finance can be used to support a number of corporate scenarios including:

• Funding expansion projects
• Leasing new commercial premises
• Making asset acquisitions
• Hiring a new team
• Purchasing new machinery or equipment
• Filling gaps in working capital

*Please note that the finance cannot be used to fund acquisitions.

The Region Covered

The funding is only available for North East businesses operating across the seven local authorities of Northumberland, North Tyneside, Newcastle, South Tyneside, Gateshead, Sunderland and Durham.

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Eligibility

In order to be eligible for NEDCF finance a business must:

  • have a material part of its operations or trading based in North East England.
  • meet a number of funding criteria, including a propensity to create jobs and contribute to economic development.
  • have fewer than 250 full-time equivalent employees.
  • have turnover of less than £42m per annum.

In order to fully appraise a funding application, Maven would expect to receive a detailed investment proposal covering the application requirements noted below.

Restricted Sectors:

Funding is only available for established companies and does not target any specific sectors, though there are certain restrictions which prohibit funding in sectors including pure real estate development activity, gambling related services & equipment and a number of other specific exclusions.

Application Requirements

Company Overview

A detailed description of your company’s products or services, including any unique selling points or intellectual property held.

Investment & Growth Plan

Details of the specific funding requirement and how the investment will be used, as well as your long-term growth strategy.

Market Overview

A description of the market in which you operate, its general characteristics and where your company is being positioned.

Financial History & Forecast

Current and historic accounts, current financial position, and financial projections based on receiving funding.

Your Team

Biographies of the key people involved in the business, demonstrating senior team experience and expertise in a specific field.

Loan Affordability

A description of how your company will service loan repayments and interest costs.