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NPIF Micro Loans

A microfinance loan from the Northern Powerhouse Investment Fund (NPIF) is a small loan for early-stage or established small and medium sized businesses.

 



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What is an NPIF micro loan?                     
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Eligibility and exclusions                           
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Benefits and scenarios                             
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Risks                                                        
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Things you can use to secure the finance
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Is an NPIF micro loan a good fit for you?
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What is an NPIF micro loan?

 

Backed by the government through the British Business Bank,
NPIF microfinance aims to help entrepreneurs, early-stage 
businesses and more established SMEs access finance.

It provides loans from £25,000 to £100,000 in partnership with
dedicated fund managers across the North of England.

Eligibility and exclusions

 

Any start-up, early stage or established business
looking to grow but struggling to find funding can
get access to NPIF microfinance.

You can usually access this type of funding if you
have previously been declined by traditional lenders
previously, such as banks.

Funding Purpose must be for Growth of the Business.
Refinance is not permitted.

 

Benefits and scenarios

 

NPIF micro loans can help a business start up,
expand, fill funding gaps, buy important equipment
and assets, or help with projects, such as leasing a
commercial premise.

This fund has a relatively quick approval process,
giving you flexibility to make quick decisions. 

Risks

 

It can be more expensive to access an NPIF
microfinance loan compared to other forms of
private sector finance.

Government funding can also come with extra
scrutiny as you’ll be essentially funded by public
money. 

Things you can use to
secure the finance

 

With NPIF microfinance, you may be asked to provide
a personal guarantee to get a loan, which means you
will be personally liable for its repayment.

The lender may also wish the business to pledge
business assets in support of the borrowing. This
is achieved by an instrument known as a debenture.
This is a fixed and floating charge over its general
assets by the business in favour of the lender.

Think an NPIF microfinance loan could
be a good fit for you?

 

Speak to one of our finance specialists today
to find out how you can get started.

Find out more: 

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