North East Access to Finance was set up to co-ordinate and manage the re-deployment of legacies from previous investment funds in North East England, to provide new forms of support for the benefit of SMEs in this part of the country. This new funding will come from the financial returns from previous regional investment programmes that will be re-used in new funds, but with significant leverage of match funding from other sources, including the European Regional Development Fund.
In particular, we are currently very involved in the development of a new ‘JEREMIE’ fund for North East England. This is being developed in consultation with key partners including the North East and Tees Valley Local Enterprise Partnerships. It is intended that this fund will be ready to go live when the current Finance for Business North East fund ceases investing, at the end of 2015.
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