5th November 2020
Sheffield-based creative marketing and brand company Vivid Creative Limited has received a six-figure NPIF loan backed by CBILS from NPIF – FW Capital Debt Finance, which is part of the Northern Powerhouse Investment Fund.
Vivid Creative received £250,000 of NPIF funding following a period of trading uncertainty as a consequence of Covid-19 restrictions.
Trading for over 20 years, Vivid Creative is a fully integrated agency that offers market research, brand strategy and development, creative design, websites, public relations, and digital and marketing campaigns that drive client brands through to sales revenue growth.
Company revenue exceeds £1 million per annum and they currently employ 13 people. The NPIF funding will allow Vivid Creative to continue with its plan to expand its workforce, potentially creating up to nine new jobs.
The deal was introduced by Martin Dean of Shorts Corporate Finance Accountants and led by FW Capital Investment Executives Anne Blanden and Steve Teasdale.
Gerry Arcari, Vivid Creative Managing Director, said: “Accessing this CBILS-backed NPIF funding has been very important to help get our business into a good position so that we can continue to grow and adapt to the challenges of Covid-19. The team at FW Capital were very helpful and understanding and we thank them for the support.”
Anne Blanden, FW Capital Investment Executive, said: “Vivid Creative is a well-established, reputable business which has been a profitable operation trading in Sheffield since 1999.
“They needed funding to help grow the business following a period of trading uncertainty as a consequence of Covid-19. We are happy to have been able to support them during this unprecedented time.”
Martin Dean, Corporate Finance Executive at Shorts, said: “We are delighted to have assisted on this transaction which ultimately puts a great business in the best possible position to maximise future opportunities.”
Using the Coronavirus Business Interruption Loan Scheme (CBILS), to support the Northern Powerhouse Investment Fund, FW Capital is able to loan between £100k and £750k to SMEs that are experiencing lost or deferred revenues, leading to disruptions to their cash flow. Both new and existing customers are eligible to apply.
FW Capital provides loans in the Northern Powerhouse Investment Fund region with a focus on the North West, Cumbria and Tees Valley
Operating from the British Business Bank’s Sheffield head office, the Northern Powerhouse Investment Fund provides a mix of debt and equity funding (£25,000 to £2m). It works alongside ten Local Enterprise Partnerships (LEPs), the combined authorities and Growth Hubs, as well as local accountants, fund managers and banks, to support Northern-based SMEs at all stages of their development.
The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS).
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.
FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719
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