FW Capital has launched its new £20 million Teesside Flexible Investment Fund.
With investment from the Teesside Pension Fund, the £20 million Teesside Flexible Investment Fund aims to tackle identified funding gaps in the region, providing support with buying a business, property funding and bond finance. The £20 million fund will be re-invested to produce £68m of total funding.
Funding is available for postcodes in:
- Hartlepool
- Middlesbrough
- Redcar and Cleveland
- Stockton on Tees
The Property fund
- £250k to £3m for up to 3 years
- The ability to lend up to 60%
- Generally no personal guarantees
- Land must be unencumbered
- Must be pre-let and not speculative
- Support for first time developers, if they have a strong team
- Land or property must be in one of the above named postcodes
The Succession fund
- £250k to £3m for up to 5 years
- Possible personal guarantees but may be avoidable if owner has already made investment
- A mechanism to solve succession issues – management buy-outs, management buy-ins, buy-in management buy-out, acquisitions
- Ability to mix equity and debt
- Looks at how the team will create value
- FW Capital would look to exit within 5 years
- Target or acquirer must be based within postcodes as above
- FW Capital will look for commitment to grow in Teesside
- Flexibility with how this can be tailored
Bidding for contracts
- £100k to £2m for up to 2 years
- Cash collateral for bonds
- For businesses based in Teesside or businesses delivering a contract in Teesside
- No personal guarantees
If you would like to know more about the application process, please contact:
Shirley Blackwood
Client Relationship Manager
shirley.blackwood@waltonsba.co.uk
who will provide you with further information.
