Over £15m of investment has been provided to growing SMEs in the Liverpool City Region by NPIF – FW Capital Debt Finance, which is managed by FW Capital and part of the Northern Powerhouse Investment Fund. The investment has attracted co-investment of over £16m from the private sector resulting in an impact on businesses in the region of over £30m.
The loans delivered by FW Capital represent a huge milestone since the fund was first established in 2017. This underlines FW Capital’s long-term economic impact in the region.
Carol Bolland, Investment Executive at FW Capital, said:
“Liverpool City Region has seen huge success in recent years with significant regeneration and business expansion. The funding we’ve delivered is designed to help businesses realise their potential and generate growth. This has a tremendous impact on the long-term benefits and future success of the region.”
Notable investment has been provided to Skyhook Games, Skyhook Games, a creative production house based in Liverpool that delivers game development and art outsourcing to companies worldwide. The company secured a loan from FW Capital to expand its team of talented creative professionals and support its growth plans.
Graham Chellew, Finance and Operations Director at Skyhook Games explains:
“In 2019, Skyhook Games was in its 5th year and looking to grow, but capital and resource were our biggest barriers.
At this time, we met FW Capital at a local networking event. Carol listened, understood our needs, and when others wouldn’t, were able to match our requirements offering a solution.
“In a fast paced digital environment, time is of the essence, so our successful application helped us take advantage of the commercial opportunities that lay ahead and secure a larger dedicated studio space. This was all pivotal in growing our headcount.
“We’ve since repaid this initial loan but approached FW Capital for a second round of funding to bridge projects and to support a new stage of growth. The good experience from the first round was a key factor in this decision along with competitive terms for a business of our age and size. This was underlined by a smooth and efficient process and the great relationship we already hold with the FW Capital team.”
Keira Shepperson, Director at British Business Bank, said:
“Liverpool is one of the UK’s most famous cities and the Northern Powerhouse Investment Fund has played a key role in bringing transformational investment opportunities to businesses in the region. Whether it’s creating new jobs, or helping companies relocate to new premises, Liverpool business leaders have demonstrated over the years that the city is a place full of dynamic, resilient and thriving organisations, playing a key role in boosting the economy for the North as a whole.”
NPIF – FW Capital Debt Finance is managed by FW Capital and part of the Northern Powerhouse Investment Fund. It can provide loans in the NPIF region with a focus on Cheshire, Cumbria, Greater
Manchester, Lancashire, Merseyside, and the Tees Valley.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.