The EV SME Loans fund, which is managed by Mercia, was launched in June 2015, having attracted £40.0million of investment from Greater Manchester Pension Fund and Santander UK plc.
The fund provides loans between £150,000 and £1.0million to established and growing SMEs in all sectors and across all areas of the UK, with a particular focus on the North of England. Loans are available for all purposes, including acquisitions, asset purchases, operational improvement and business development.
Eligibility and more information
To qualify for these funds your business will typically have three years’ trading history, £100,000 current or anticipated operating profit and £1.0million turnover.