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Quick Reference Guide

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If you are an SME* located in the Midlands – West Midlands and East and South East Midlands, the Midlands Engine Investment Fund (MEIF) could provide the funding you need to help your business realise its potential.

MEIF is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the West Midlands and East and South East Midlands and provides commercially focussed finance to help SME’s start -up and grow.

MEIF combines £250 million of funding from the UK Government, European Regional Development Fund, British Business Bank and European Investment Bank to help businesses in the region to scale-up and become a successful part of the government’s Midlands Engine vision.

We offer three different funding options designed to plug gaps in the provision of commercially available finance, ranging from £25,000 Loans to £2million Equity Investments.

Investment from MEIF-supported product funds is open to a wide range of sectors from early stage innovative businesses through to manufacturing and creative and digital industries. If you can demonstrate growth potential, your business may be eligible. **See below for exceptions

* An SME is a business employing fewer than 250 employees, with an annual turnover of less than 50m Euros or balance sheet net assets of less than 43m Euros. The business cannot be part of a larger group employing more than 249 employees and where the group owns at least a 25% share of the business.
** MEIF-sourced funding cannot be used to invest in businesses in the following sectors: property development, ship building and agriculture. In addition it cannot be used re-finance existing commercial borrowing or help failing businesses.

FUNDING OPTIONS
SMALL BUSINESS LOANS
• Small business loans
• £25,000- £100,000

DEBT FINANCE
• Business loans
• £100,000 - £1.5m

PROOF OF CONCEPT
• Early stage and later stage equity funding
• £50,000 - £2million
• For established businesses with ambitious plans or large start-ups with high growth potential

EQUITY FINANCE
• Later stage equity funding
• Up to £2million

WHO CAN APPLY
To be eligible for funding from an MEIF-support product fund, an SME must have a material part of its operations, staffing or trading based in the MEIF area (or plan to establish such a presence within 2 years.

Eligible businesses may include:

  • New start-ups
  • Early stage companies
  • Fast-growing small businesses
  • Established SMEs
  • Small businesses looking to relocate in the North of England
  • Businesses unable to source funding from banks or investors

MEIF's appointed Fund Managers will be able to provide more detailed guidance on eligibility for funding.

WHY APPLY
MEIF's product funds can provide funding options that can boost your business needs, for example by:

  • Funding expansion projects
  • Leasing new commercial premises
  • Making asset acquisitions
  • Hiring a new team
  • Purchasing new machinery or equipment
  • Exporting abroad
  • Filling gaps in working capital

HOW TO APPLY

  1. Find a fund manager at www.meif.co.uk
  2. Make an enquiry directly to the fund manager
  3. The fund manager will contact you to see if your business qualifies
  4. You make a formal application
  5. The fund manager evaluates your application and makes the investment decision
    If you or your client is based in the north please visit www.npif.co.uk for finance options.
small business loans

Small Business Loans

£25k – £150k

Small Business Loans page
Learn More
debt finance

Debt Finance

£100k – £1.5m

Debt Finance page
Learn More
equity finance

Equity Finance

£50k – £2m

Equity Finance page
Learn More
proof of concept

Proof of Concept

Up to £750,000

Proof of Concept page
Learn More
Follow @midsenginv

Staffordshire-based @JenniferSkin is set to expand into new #international markets following investment from #MEIF and @Midven.

Find out more about the firm's plans here: https://t.co/c7Gi8P4iiv https://t.co/E7a5OslYdM
MidsEngInv photo

Keep up to date with the latest news, views and deals on our #MEIF LinkedIn.

Connect here: https://t.co/2ArDcrrsVn https://t.co/HhkX00kyVb
MidsEngInv photo

Growth Hubs can help connect entrepreneurs, start-ups and larger businesses with the support they need to grow.

With 10 located across the #Midlands, find your local #GrowthHub here: https://t.co/TgkARfQcA7 https://t.co/rF0DFSnwya
MidsEngInv photo

Whether you are an #entrepreneur looking to start a business or an #SME looking to grow, you may find it difficult obtaining the finance you need.

#MEIF Small Business Loans can be used to fill funding gaps.

Find out more: https://t.co/UL95xCT6Fk https://t.co/fxfbpL9mYz
MidsEngInv photo

65% of #MEIF investee firms reported increased skills in their workforces according to our Early Assessment Report.

Find out more about the fund's impact on job creation and skills here: https://t.co/NnfU2oqVQm https://t.co/eo7eT08AGl
MidsEngInv photo
Latest News
management of business pictured with Fund manager and bank representation
Luton manufacturer set to expand after £350k MEIF investment

A Luton-based manufacturer of cutting equipment has secured a £350,000 investment to expand its product line and create...

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Just add your details below to receive the latest Midlands Engine Investment Fund news and information