Maven has now provided over £43 million to the region’s businesses as part of its work delivering finance through the Midlands Engine Investment Fund (MEIF).

Maven manages two debt funds on behalf of the MEIF across the West, East and South East Midlands. Working with the region’s Local Enterprise Partnerships (LEPs) and Growth Hubs, Maven has now completed 100 transactions ranging from £100,000 to £1.5 million.

Transmit Startups says a surge in demand for finance from lockdown entrepreneurs means it has now supported thousands of members of the UK’s business community with £100million-worth of funding.  Transmit, which is the UK’s leading provider of Start Up Loans for business, has invested in 8,578 new entrepreneurs across the length and breadth of the UK since being set up in 2013. Businesses backed range from valet-style bike parking to vegan handbags, and everything imaginable in between.

Offshore crew transfer specialists High Speed Transfers, based in Gorseinon Swansea, are closer to their zero emission dream after securing a £2.28 million loan from the Development Bank of Wales.

The company own and operate crew transfer vessels (CTVs), providing transport and services to customers in the construction and operation of offshore platforms. Services include crew transfer, cargo transport, and refuelling of generators. Trading since early 2018, High Speed Transfers specialises in providing CTV services to European wind farms.

Steel manufacturer, Hi-Tech Steel Services, has secured a £8.75M funding facility, which includes a £750,000 Coronavirus Business Interruption Loan (CBILS) from Independent Growth Finance (IGF). The Merseyside-based steel processor required additional working capital to support growth and assist the business during the height of the pandemic.  

A new report by the British Business Bank reveals how private debt has become a valuable source of finance for smaller businesses across the UK 

A Stamford based chocolatier business has secured a £250,000 MEIF loan to help meet increasing demand for its products from the UK and overseas. This is alongside boosting its marketing campaigns to drive sales in 2021.

Two West Midlands businesses are set to pursue new growth following funding packages totalling over £1.7m.  The duo of deals includes Birmingham-based insurance services firm, Parker Norfolk & Partners Ltd which secured £1.6m, with Worcestershire company, AirTube Technologies Ltd, receiving £175,000.  The finance was secured through The Midlands Engine Investment Fund (MEIF) Debt Finance, managed by Maven Capital Partners and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).  

Funds advised by Hilltop Credit Partners, a specialist funding partner for SME residential developers, have completed a £15 million loan to the Propiteer Group for a development project within the Fletton Quay area of Peterborough, Cambridgeshire.

Specialised chemical manufacturer, FIS Chemicals has secured a £1.7 million asset based lending facility from Independent Growth Finance (IGF). The funds raised through invoice discounting and a property loan, were used to support an MBI and to provide working capital to support the growth of the business.

The British Business Bank has published Future Fund data that gives a detailed picture of the 1,055 companies that have been approved for £1,066.6m worth worth of Convertible Loan Agreements since the scheme was launched on 20 May. There have been 1,616 applications in total since the scheme launched. The Future Fund closed for applications on 31 January 2021.

Footwear wholesaler, D. Jacobson & Sons Limited, has secured a £7 million ABL facility from Independent Growth Finance (IGF). As a branded operation the company saw large opportunities for growth within their portfolio. The Lancashire based seller required additional working capital resource to expand into new international markets and invest in online technology to support progression during the pandemic and beyond.  

Keysource, a specialist in data centres and critical environments, has successfully completed a management buyout (MBO), led by Stephen Whatling.