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Accessing Business Finance Workshop February 2014 Derry City Council

Accessing Business Finance Workshop February 2014 Derry City Council. Invest NI’s Access to Finance Solutions. Growth Loan Fund (£ 50m) (DEBT/MEZZ). Small Business Loan Fund (£5m) (DEBT ). Development Fund I (£30m) (EQUITY). Co-Fund NI (£16m) (EQUITY).

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Accessing Business Finance Workshop February 2014 Derry City Council

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  1. Accessing Business Finance Workshop February 2014 Derry City Council

  2. Invest NI’s Access to Finance Solutions Growth Loan Fund (£50m)(DEBT/MEZZ) Small BusinessLoan Fund(£5m) (DEBT) Development Fund I (£30m) (EQUITY) Co-Fund NI (£16m)(EQUITY) Development Fund II (£30m) (EQUITY) NISPO Funds(£17m)(EQUITY & GRANT) Provides Risk Capital funding continuum - from start-up to development capital up to £2m Deal size Up to £250k £500k £2m

  3. Funds and Fund Managers

  4. Funds and Fund Managers Bank of Ireland NI Development Capital Fund Crescent Capital III

  5. Small Business Loan Fund • £5m revolving loan fund launched Feb ‘13. At end Jan ‘14, 53 loans made, totalling over £1m. • Provides loans of between £1,000 and £50,000 on a typically unsecured basis, at 6%-10% fixed flat interest rates. • Aimed at Micro, SMEs and social enterprises. • Start-ups are eligible to apply for up to £15k. Established businesses can apply for up to £50k. Mentoring support is also available. • Ulster Community Investment Plc (“UCI”) has been appointed to manage this fund (partly delivered through Enterprise NI). • Further details available at www.nisblf.com

  6. NISPO Funds • Provides support to start-up and early stage businesses along a continuum known as an “enterprise escalator”. • Invest Growth POC Fund is a pre-commercial grant fund to establish the commercial potential of a concept. Mini grants up to £10k; standard grants up to £40k. 232 awards made to date. • Invest Growth Fund invests in early stage businesses. Investment range £50k-£250k. Private sector contributes 30% in any funding round. 29 deals to date. • Two university funds (£1m in each) providing seed investment up to £200k. • Suite of support includes “Investment Readiness” and Showcasing events. • Further details available at www.nispofunds.com

  7. What do funders look for? • Character & Ability – brief business history and management profile. • Performance – commentary and historical accounts if available. • Conduct of Account – evidence of previous facilities respected. • Requirements – clear explanation of the purpose of the finance and the amount required. A good funding proposal document. • Serviceability – evidence that repayments can be met. • Security – what is available?

  8. Finance Vouchers • Finance Vouchers can be used towards the cost of using external consultants to help businesses prepare a funding proposal. • Small or medium sized business from either the manufacturing or tradable services sectors with growth potential, can apply for a Finance Voucher. • The Finance Voucher initiative is managed and administered by Invest NI. It provides support at up to 49%, to a maximum of £4k. • Cannot be used towards the cost of preparing a grant application or other ongoing accountancy services. • Further details available by calling 0800 181 4422 or at http://www.investni.com/support-for-business/funding-for-business/access-to-finance-strategy.html

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