Published: September 5th, 2018
The Midlands Engine Investment Fund (MEIF), supported by the European Regional Development Fund, provides commercially focussed finance through Small Business Loans, Debt Finance, Proof of concept and Equity Finance funds.
MEIF aims to transform the finance landscape for smaller businesses in the Midlands and to realise the region’s potential to achieve economic growth through enterprise.
MEIF is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the West Midlands and East & South East Midlands providing over £250m of investment to boost small and medium business (SME) growth in the Midlands through four different funding options:
small business loans of £25k to £150k for new or growing businesses
debt finance of £100k to £1.5m for established businesses that can demonstrate growth potential
proof of concept/early stage equity funding up to £750k for start-ups looking to commercialise their innovative new product
later stage equity funding of up to £2m for businesses with ambitious growth plans.