What is MEIF?
The Midlands Engine Investment fund is a collaboration between the British Business Bank and 10 Local Enterprise Partner (LEP) areas - this includes D2N2 (Derby, Derbyshire, Nottingham and Nottinghamshire) which covers High Peak. MEIF has been designed to provide greater support to the region's smaller businesses, accelerate economic growth and promote job creation - in line with the Government's Midlands Engine Strategy
How can it help?
- £30million of small (SME) business loans ranging from £25,000 to £150,000; including for start-up firms Further information & how to apply
- £90million of debt finance available from £100,000 to £1.5million.Further information and how to apply
- Equity funding up to £2million Further information and apply
- Equity proof of concept seed funding
For further help and support contact D2N2 Growth Hub business helpline Tel:0333 006 9178
£400m Midlands Engine Investment Fund II preparing for 2024 launch
British Business Bank invites proposals from potential fund managers to operate the new fund (20th June 2023)
A £400m investment fund to support the growth of small and medium-sized businesses across the Midlands is on course to be launched early next year. The Midlands Engine Investment Fund II (MEIF II) is being delivered by the British Business Bank, bringing the total it has specifically earmarked for investment in the region to over £700m since 2017.
The Midlands Engine Investment Fund II is part of the new Nations and Regions Investment Funds, launched by the British Business Bank, which will deliver a commitment of new funding to drive sustainable economic growth, levelling-up of access to finance in the Midlands through debt and equity funds in the region.
This builds on the success of the existing Midlands Engine Investment Fund which has been in operation since 2017.
