Businesses urged to get the latest on coronavirus support

The North East Fund, which is made up of five venture capital and loan funds established in 2018 to invest £120million in North East businesses, is offering small businesses and owner managers free one-to-one virtual meetings with its team on what financial support is available and how to access it.

Engagement Officer James Holloway is urging businesses to get in touch if they need help with Government and local authority loans and grant schemes and how to apply.

Companies which have experienced greater demand for their products and services, or may require funding to adapt their business to take advantage of new opportunities, can also get in touch.

James and colleague Andrew Gibson can also advise on UK-wide schemes, such as Innovate UK grants and the Future Fund, and are familiar with what is on offer across the North East.

“Both Andrew and myself work very closely with regional economic development teams, support organisations and the wider business community, therefore we have access to a plethora of information which, now more than ever, is essential for company owners,” said James.

“We have established very close relationships with hundreds of regional SMEs who, in the past, have come to us for funding. However, if we can offer any general assistance and become the first point of contact for owners trying to navigate challenging times and work through what’s available to them, we’ll very much do so.

“Whilst we can’t provide short-term working capital or bridging loans to struggling companies, we can help to identify possible sources of such funding.

“One of our fund management companies, NEL, is able to offer Coronavirus Business Interruption Loans, so companies which need additional finance to sustain or grow their business, should definitely to get in touch.”

To arrange a virtual one-to-one appointment with North East Fund representatives, email: [email protected] (for Sunderland, Northumberland and South Tyneside companies) or [email protected] (for County Durham business, or go to www.northeastfund.org

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