The Coalfields Enterprise Fund has been established to finance growth-orientated companies and encourage entrepreneurship in England’s former coalfield areas.
The fund provides risk finance in the range of £40,000 to £500,000 in the form of equity, with preference share capital and loans, and follow on finance is available. Investment by the fund maybe up to 50% of the total funding package. They can consider new start up companies, established businesses seeking to expand, acquisitions and mergers and buy-outs/buy-ins.
• An applicant company must operate within or employ a proportion of the workforce from an eligible coalfield area. (Derbyshire is eligible)
• Companies must be able to demonstrate growth and viability and a potential realisation of the Funds investment, at a commercial return, after a number of years.
• The Fund is able to invest in most industrial sectors although there are some exclusions – see website for details.