Over £24 million has been invested in the South West economy over the last two years thanks to regional finance firm Finance South West. This significant investment has helped 58 companies to secure their future.
Finance South West is an £18 million investment fund that can provide commercial finance from £10,000 up to £1 million for buying, starting or growing a business in the Objective Two area of the South West. Companies to benefit from investment have included Dartington Crystal, in Torrington, Beco Batteries, in Dartmouth and Hunter Fleming in Bristol.
Since 2005, the Finance South West Growth Fund, managed by YFM Venture Finance, has invested £4.1 million in nine businesses, levering a further £13.7 million into the South West economy. Its Loan Fund has invested £2.5 million in 49 different businesses, levering an extra £3.7 million into the local economy.
Keith Masson, Fund Manager of the Finance South West Growth Fund, said: “We are obviously delighted to have invested in so many small and medium businesses in the South West and to have made such a significant and positive impact on the region’s economy. We look forward to investing in many other businesses in the future and would urge anyone who may be interested to get in touch.”
Nick Buckland, Deputy Chairman of South West Regional Development Agency, said: "Finance South West has achieved a lot in a short period. Investing nearly £7 million might sound simple, but getting that sort of sum out to companies that will make a real contribution to the regional economy is not easy. With the remaining balance available, I would like to see as many SMEs as possible taking full advantage to spur their growth and add to the success of the region."
Ends
Dated 21/08/07
Notes to Editors
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Finance South West
Finance South West is an £18 million investment fund that can provide commercial finance from £10,000 up to £1 million for buying, starting or growing a business in the Objective Two area of the South West. The company also offers business planning services and mentoring through a network of qualified professionals and a panel of non-executive directors to help businesses achieve their goals. The Finance South West Loan Fund has invested £2.2 million in 46 small and medium-sized businesses, levering £3.75 million into the South West economy and safeguarding 160 jobs and creating 98. The Finance South West Growth Fund has invested a total of £4.1 million in nine companies, creating or safeguarding 160 jobs.
YFM Venture Finance Ltd (part of the YFM Group)
YFM Group is the UK’s most active investor in the small and medium enterprise marketplace. YFM Group manages in excess of £250 million of funds with investment sizes ranging from £50,000 to £5 million. YFM is located in Leeds, Manchester, London, Plymouth, and Bristol with over 40 investment professionals across the UK. In the South West, YFM Group manages the Finance South West Growth Fund and the South West Ventures Fund.
Contact - PR for Finance South West
Samantha McKay, PR Manager, Formedia, on: 01752 762120 or email: samantha@formedia.co.uk |
