Business investor NEL Fund Managers has a further £4m to make available to regional companies folowing fresh accreditation.
The Newcastle organisation has been confirmed as a provider for the new iteration of the Recovery Loan Scheme (RLS) by the British Business Bank, meaning it can provide loans of between £25,001 and £250,000 to North East firms as part of its wider investment offering of up to £500,000.
NEL was first accredited for the Recovery Loan Scheme in 2021, and it has since made 29 RLS investments with a total value of over £4.15m. The RLS scheme complements the growth capital investments NEL already makes across the region from the two elements of the £120m North East Fund that it manages - the £9m North East Small Loan Fund and the £18m North East Growth Capital Fund.
