Northern Powerhouse Investment Fund
The £400 million Northern Powerhouse Investment Fund (NPIF) was launched in February 2017 by the government-owned British Business Bank with an aim to assist the region’s businesses with their growth plans.
Working alongside 10 Local Enterprise Partnerships (LEPs), NPIF is a key part of the government’s ‘Northern Powerhouse’ vision, which aims to end the historic North / South divide and create economic prosperity in the North of England on par with London and the South East.
NPIF’s funding supports new and growing SMEs, creates jobs and encourages and attracts additional private sector investment by providing finance and support for small and medium businesses.
NPIF provides commercial finance through three types of product funds: Microfinance, Debt Finance and Equity Finance. These funding options 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.
NPIF has appointed Fund Managers who are responsible for evaluating applications and allocating funds to businesses. Their work is complemented by NPIF staff who work with local business support providers in the LEP areas, including Growth Hubs.