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04/12/2013

Bigger loans for more business

Having already lent £12m to over 75 businesses from The North West Fund for Business Loans since 2011, FW Capital has been given another £10m to lend to established SMEs. The beefed up fund has a new name -The North West Fund for Loans Plus and can now lend up to £750,000 at a time.

FW Capital Fund Manager, Gary Guest explains why he thinks this could be a confidence boost for even more North West SMEs.

As the UK continues to endure one of the most turbulent periods in its economic history, it’s no surprise optimism is in short supply and business confidence is at best patchy.

Despite this, FW Capital can report some real success stories where strong, resourceful management teams have combined their ingenuity with a North West Fund loan to achieve growth - and in some cases - quite extraordinary growth.

A £250,000 loan was a real shot in the arm for one business backed by The North West Fund for Business Loans in 2011 and its turnover has increased dramatically from £3m to £45m. In this case we were able to work with the management team to take a pragmatic look at the business's longer-term plans and consider a range of factors other than available security.

This is one business that has successfully adapted to what the current economic climate is throwing at it and FW Capital can point to a number of similar examples in its portfolio. We've found that our flexible approach has been well received by these businesses and hopefully boosted their resolve in tough times.

With an extra £10m to lend and a three-fold increase in the maximum loan size to £750,000 FW Capital hopes that its approach will appeal to even more established North West businesses, their banks and advisers.

For more information about our funding opportunities email: thenorthwestfund@fwcapital.co.uk