Partner:BFS & MSIF
Programme:Northern Powerhouse Investment Fund
Workplace learning provider Evolve Military College secured a £95,000 loan from NPIF – BFS & MSIF Microfinance, a product managed by GC Business & MSIF and part of the Northern Powerhouse Investment Fund.
The North West-based firm offers training for young people prior to joining the armed forces. Acting as a government funded supplementary education provider, Evolve prepares young people aged between 16 and 24 on a range of disciplines including English and Maths, emotional wellbeing, and physical training and military knowledge. For younger students, the firm also offers full-time and part-time courses to lay the foundations for life in the armed forces.
The firm opened its first centre in Bury – capable of training 50 young people at a time – and with use of the £95,000 NPIF loan provided by GC Business Finance has recently opened a second centre in Burnley. The Burnley centre has expanded the firm’s capacity to 120 young people, more than doubling the number of potential students. The loan has also allowed Evolve to create 11 new jobs in the North West and with plans to create a national platform within three years, the loan will eventually fund more jobs throughout the country.
Andrew Emmett, Managing Director at Evolve Military College said: “The work we do in areas such as Bury and Burnley is crucial to many young people. In helping these aspiring armed services personnel understand the daily life of the military, in addition to training their body and minds, we’re helping smooth the transition into service life as much as possible.
“Throughout the process, everyone at GC Business Finance – especially Simon Truby – and NPIF have been fantastic. Simon kept us well informed throughout the process, which itself was very easy to navigate. Now that we have access to the funding, we can go on and make a huge difference in areas that need us.”
Simon Truby, Senior Business Loan Manager at GC Business Finance said: “At GC Business Finance, we are constantly looking for businesses that make a difference in their local communities. Evolve Military College does exactly that, and by facilitating the loan, not only are we helping the business expand by hiring new staff, but we’re helping them grow their impact as well.”
Sue Barnard, Senior Manager at British Business Bank, said: “NPIF continues to provide vital funding to Northern businesses across the region. We are pleased to support Evolve, and are proud to work in partnership with GC Business Finance and our other appointed fund managers to make a real impact on business communities, creating jobs and strengthening regional economies to unlock the North’s potential.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The MSIF group of funds are managed by Alliance Fund Managers Limited which is regulated by the Financial Conduct Authority in the course of investment business. Financial Conduct Authority Registration Number is 180891.
BFS Funding Managers Limited is regulated by the Financial Conduct Authority as a Small Authorised UK AIFM under firm reference number 608682.
If you would like to meet with one of NPIF's appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area