Supported by the European Regional Development Fund, NPIF is an initiative launched by the government-owned British Business Bank.
It is a key part of the Government’s ‘Northern Powerhouse’ vision, which aims to help reduce the North/South divide and create economic prosperity in the North of England on a par with London and the South East.
The Government firmly believes that smaller businesses (SMEs) form the foundation of the region’s future growth. NPIF therefore aims to nurture regional entrepreneurship by providing investment and support for SMEs between 2016 and 2021. NPIF's funding will support new and growing SMEs, create jobs and encourage and attract additional private-sector investment.
Delivered by the British Business Bank, NPIF aims to drive sustainable growth and prosperity across the North, and to enable the transition to a net zero economy, by supporting access to finance for smaller businesses.
NPIF provides commercial finance through three types of product funds: microfinance, debt finance and equity finance. These funds provide funding options that are designed to plug common gaps in the provision of finance, giving your business access to the funding it needs to help it grow.
NPIF funding is drawn from several sources including the UK Government, the European Investment Bank, the British Business Bank and the European Regional Development Fund (including nominal allocations from 10 out of the 11 Local Enterprise Partnerships (LEPs) in the North of England*).
NPIF has appointed fund managers who are responsible for evaluating applications and allocating funds to businesses. Their work is complemented by dedicated NPIF staff who work with local business support providers in the LEP areas, including Growth Hubs.
*If you’re looking for finance and are based in the North East outside of Tees Valley, visit the North East Fund website.
If you’re based in the Midlands and looking for finance, you can apply for funding via the Midlands Engine Investment Fund (MEIF).
Liverpool City Region LEP
Cheshire and Warrington LEP
York & North Yorkshire
South Yorkshire Mayoral Combined Authority
Tees Valley Combined Authority
Leeds City Region LEP
Hull and East Yorkshire LEP
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