It seems almost unbelievable that we will all shortly be gathering, in person, to celebrate the very best of the North East business community. The past 18 months have seen unprecedented and unique challenges, the likes of which we hope we will never see again.
FW Capital certainly rose to the challenge of supporting local businesses through the pandemic. The company- which is a sponsor for the North East Business Awards – quickly became an accredited Coronavirus Business Interruption Loan Scheme (CBILS) lender and facilitated almost £50m of funding across the North of England. This was over double the amount FW Capital had anticipated investing through this period and illustrates the need for this important lifeline and other government-backed schemes like it.
As CBILS came to an end FW Capital sought accreditation under the Recovery Loan Scheme (RLS) that will be used in conjunction with the deployment of loans from the Northern Powerhouse Investment Fund (NPIF).
The RLS supports lenders providing access to finance for UK businesses as they recover and grow following the Covid-19 pandemic. It can be used for any legitimate business purpose, including managing cashflow, investment and growth for businesses affected by Covid 19.
The team in the North East worked so hard, under extraordinary circumstances, to deliver funding where it was needed most and will continue to offer support from the three funds that its manages.
Through NPIF, FW Capital can provide loans of £100-£750k to SME businesses, with a focus on the Tees Valley, to help them grow. The funds can be used to help the business to increase their workforce, purchase new equipment, expand their premises or for growth capital.
The company also manage the Tees Valley Catalyst Fund on behalf of Tees Valley Business. This fund can help businesses across the North East bid for new contracts by providing short-term loans from £100k to £1m to cover performance bonds, warranty bonds and advanced payment guarantees.
The North East Business AwardsFinally, FW Capital manages the North East Property Fund which provides development finance to help construction companies and property developers to build smaller scale residential and non-speculative commercial schemes in the North East LEP area. Through this fund FW Capital can lend between £250k and £1m.
It’s this knowledge of the sector which has seen FW Capital involve itself in the 2021 North East Business Awards, which take place on Thursday, September 23, in the Grand Marquee at Hardwick Hall, Sedgefield.
The awards really highlight exceptional businesses and it will take an extraordinary company to win this year’s High Growth and Ambition award, which FW Capital says it is delighted to sponsor.
To be on the shortlist for this award, a business must have shown a high level of growth over the past 12 months. When judging the category, FW Capital has been looking for those organisations which have shown exceptional, but sustainable, growth. The company says it also wants to see that the business has a strong plan in place and a clear path for the years ahead.
To be able to demonstrate this level of growth, planning, and ambition – against the backdrop of the most challenging business environment in a generation – shows real determination. The winner of this award will be a trailblazer in their sector and an inspiration to other businesses. FW Capital warmly congratulates all those nominated and shortlisted for the 2021 High Growth and Ambition award.
For more information about the North East Business Awards, click here
For more information about FW Capital, click here
