After months of uncertainty, and with the rumour mill in full swing since the summer, it was great to hear the North East LEP announce today that agreement had been reached in principle with the EIB for the North East Fund (aka JEREMIE 2) to be launched in 2018.
These funds have been a vital source of finance for many SMEs in the region for the last seven years and there has been a gap in the funding landscape since the old funds closed in December 2016. These new funds will be a great source of finance for those looking to raise up to £2m in equity or debt finance and should help create growth and jobs across the region.
If any business is looking to raise finance in the New Year then please contact Chris McCourt.
The full NE LEP statement is available on this link https://www.nelep.co.uk/news/news-north-east-fund/