Enterprise Ventures, a Manchester based company specialising in providing finance for SMEs, have launched a new £40 million loan fund to support small businesses. The fund, backed by Santander UK and Greater Manchester Pension Fund will provide up to £1 million to small firms across all sectors and areas of the UK to help build growth.
Enterprise Ventures SME Loans are available now to businesses who are established within the UK and have been trading for 3 years or more, who have a current or anticipated turnover of £100k operating profit, and a minimum turnover of £1million.
The loans will be available for all purposes including acquisitions, asset purchases, operational improvement and business development. SMEs are extremely valuable to the UK economy, creating jobs and driving local economic growth. Santander have been consistently supporting the growth of small businesses in the UK with their lending growing by an average of 20 percent over the last 4 years. Their investment is part of their Breakthrough initiative which offers a unique set of financial and non-financial services and products to the country’s most ambitious businesses.
To find out more about how Enterprise Ventures can help your business and how to get in touch, visit their website here.