Which companies are eligible?
Midlands-based SMEs across most sectors are welcome to apply. There are some restrictions and limitations on the fund to ensure the investment is being focused on smaller companies in the region and that the fund complies with UK and EU law.
- An SME is a business employing fewer than 250 employees, with an annual turnover of less than c.£45m and balance sheet net assets of less than c.£38m. 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.
- To be eligible for funding, an SME must have a material part of its operations, staffing or trading based in the MEIF area (or will establish such a presence on receipt of investment).
- Funding cannot be used to invest in businesses in some sectors such as: property development, ship building and agriculture. In addition, it cannot be used re-finance existing commercial borrowing or help failing businesses.
Please use the enquiry form page to contact us for further information and to discuss making an application relating to an investment opportunity in your business.