North East Fund Reaches £10m Lending Milestone - Business Durham
North East Fund Reaches £10m Lending Milestone

North East Fund Reaches £10m Lending Milestone

A determination to keep supporting regional companies and continue aiding business growth despite the current challenges has seen the North East Fund help SMEs secure £10m of funding since the start of the lockdown period.

More than £4m has been invested by the organisation in 25 companies since mid-March, with a further £6m secured from other investors.

The money secured mean the businesses from different sectors are now navigating the economic downturn and in some cases, increasing sales and productivity.

With several high-profile manufacturers also announcing a gradual return to production over the coming weeks, the North East Fund is remaining optimistic that SMEs which originally feared for their future are "adapting well and finding new markets and methods of working".

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