The £400 million Northern Powerhouse Investment Fund (NPIF) is an initiative launched by the government-owned British Business Bank with an aim to assist the region’s one million 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 dedicated NPIF staff who work with local business support providers in the LEP areas, including Growth Hubs.
For more information about Northern Powerhouse Investment Fund, please visit www.npif.co.uk
If you are a business looking to make an enquiry or application for NPIF funding – visit the Funds Available page
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.