New appointment at South Yorkshire Investment Fund
Published: 14th March 2006
Pictured is Clive Downward, SYIF’s new Investment Director to the Small Business Team.
South Yorkshire Investment Fund (SYIF) has appointed Clive Downward as Investment Director to its Small Business Fund Team.
Clive, who previously worked on SYIF’s Capital and Development Fund, takes up the role from the beginning of April.
Clive will join the existing Investment Managers – Karl Hodson and Jane Siddle, and administrator, Mel Reynolds. In addition a new Lending Manager and a new appointment of a full-time Business Development Manager will also be joining the team, details to be announced shortly.
Clive said: "I’m really looking forward to working on the Small Business Fund; most businesses and financial advisors recognise that our unsecured loan product is a very competitive means of businesses achieving their expansion plans, when they have a gap in their financing. Having talked to clients and advisors I believe we have an opportunity to make the product more accessible to more businesses through some simple improvements – and this is one of my early priorities."
The Small Business Fund offers loans ranging from £15,000 to £150,000, with effective annual interest rates from as little as 2.4% per annum. Loans are unsecured for the majority of established profitable businesses with unsecured loans of up to £50,000 available for start-ups or early stage development.
At the moment SYIF has a special time-limited offer on loans for businesses in Barnsley, Doncaster or Rotherham which has now been extended to September 30th this year. It offers an effective interest rate of 0% for 12 months on selected loans. SYIF is aiming to increasing applications to the Fund from these areas. Conditions do apply. For more information ring 01709 386 377.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).