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Finance for Business North East Fund goes live investing £125m into regional economy

A new £125m ‘super fund’ has been officially launched to support hundreds of businesses which will help lead the North East’s economic recovery.

The new fund - formerly called JEREMIE - will underpin the growth of business start-ups, technology-based companies and growing smaller businesses, helping to create jobs and prosperity for the region through targeted loans and equity investments.

Over the next five years, it will support up to 850 small and medium-sized North East companies, with the aim of creating more than 5,000 jobs.

The European Investment Bank is committing £62.5m into the fund, with £44.25m coming from the European Regional Development Fund 2007-2013 and £18.25m from One North East.

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