MEIF is funded by the European Regional Development Fund, European Investment Bank, UK government and Local Enterprise Partnerships. The initiative has been launched by the government-owned British Business Bank, in collaboration with ten LEPs in the Midlands.
MEIF will provide a total of over £250 million of equity and loans to boost small and medium business growth in the Midlands. It is a key part of the government’s vision aimed at boosting the region’s economy and supporting the growth of smaller businesses.
MEIF’s funding will support new and growing SMEs, create jobs and encourage and attract additional private sector investment.
Combining the LEPs’ knowledge of local businesses and economic conditions with the experience and resources of the British Business Bank, MEIF’s funding will support new and growing SMEs, create jobs and encourage and attract additional private sector investment.
Through the MEIF allocation, we are seeking to back high-quality management teams in differentiated businesses with ambition to grow and, ultimately, realise value for all shareholders.
Exciting growth companies
Fewer than 250 staff members and less than €50m revenue or €43m balance sheet
Less than 7 years old or entering new markets
Material presence in region
Strong management teams
With backable business plans
Potential for shareholder value growth
Sustainable employment growth
Launching new products and services
Potential to co-invest
Clear and realistic exit strategy