Re-launch of Finance East as Community Interest Company (C.I.C.) opens up new funding sources for companies in Bedfordshire
Finance East and Finance South East have re-launched under a single name â€“ The FSE Group - as an independent community interest company (C.I.C.) with a growing range of funds and services for companies, communities and social enterprises in Bedfordshire.
The FSE Groupâ€™s award winning team delivers a range of debt and equity growth finance solutions and support to innovative SMEâ€™s. With approximately Â£40m funds under management, the team; recognised as Best Early Stage Investment Team by the British Business Angel Association (BBAA) in 2009, has invested over Â£6m in companies in the East of England over the last three years.
Bedfordshire companies that have benefited from funding via the Group include Sandy-based technology company EBase.
From its office in East Anglia (Ipswich), The FSE Group manages three funding vehicles exclusively geared to companies in Bedfordshire and the East:
The East of England Regional Growth Loan Scheme provides a debt facility to high growth companies based in the East of England. Loans of between Â£50,000 and Â£200,000 are available for revenue generation companies with annual turnover of at least Â£500,000.
The East of England Business Angel Co-Investment Loan Scheme is designed to offer a flexible loan to unlock business angel investment. The facility is provided on the basis of a minimum 60% business angel investment to 40% co-investment loan split of the total funding requirement. Investments range from Â£50,000 to Â£125,000.
The Bedford Business EIS Fund: enables locally-based investors to collaborate together to invest in a portfolio of high growth potential businesses within the Bedfordshire area via the tax-efficient mechanism of an EIS Fund.
However, in addition to these local/regional funding sources, the Group offers a number of other national funding schemes which businesses in the East are eligible to apply for:
The Community Generation Fund: a national fund to support community-based renewable energy projects.
The Social Impact Co-Investment Fund: loans of Â£25k â€“ Â£100k to SMEâ€™s anywhere in the UK, which primarily operate with a social purpose. Business angel matched funding required.
For more information on these services and our current range of funds, please see our website: www.thefsegroup.com