SYIF Briefing Note and Update
Published: 11th November 2009
As you are aware SYIF is due to come to an end shortly and we are working closely with Yorkshire Forward and Partnership Investment Finance to develop 'Finance Yorkshire', which is planned to launch in early 2010.
In the meantime SYIF has funds to invest and we continue to work closely with you, the financial intermediaries in South Yorkshire to help make the Fund available to as many businesses as possible.
We are very aware that SYIF's success has been down to the help and commitment of its intermediaries over the last 8 years and we are very grateful for your support.
Without this support SYIF would not have been as effective in achieving its objectives of providing gap finance, making a real impact on the local economy and creating a return on investment of around £17 million.
Looking forward, it is important that until 'Finance Yorkshire' is in place SYIF maintains the current momentum of investment and we are actively encouraging financial intermediaries to contact us if they have a proposal they would like to discuss across all our funds.
The Small Business Fund has invested over £20 million to date and has further funds to invest throughout the remainder of 2009.
SYIF's Capital and Development Funds have invested just over £28m to date and have further funds to invest throughout the remainder of 2009.
The Seedcorn Fund has invested just under £6 million to date and has further funds to invest throughout the remainder of 2009.
In order to ensure that South Yorkshire businesses can continue to access finance when they need it and that the momentum SYIF has gained is not lost please make sure you continue to contact us if you have any suitable proposals.
If you have any questions on this or any other issue please contact one of our Investment Managers or our enquiry line 0845 649 0000.