New look for Small Business Fund team
Published: 18th April 2006
SYIF’s Small Business Fund team: (from the left) Grahame Lunt; Karl Hodson; Jane Siddle; Chief Executive of SYIF, Tony Goulbourn; Melanie Reynolds; Kevin Steven and Clive Downward.
SYIF’s Small Business Fund team is enhancing its services even more following the recruitment of three new staff.
Grahame Lunt joins the fund as an Investment Manager; Kevin Steven has become the new Business Development Manager, who will help develop and maintain relationships with intermediaries; while Clive Downward has transferred to the team from South Yorkshire Investment Fund’s (SYIF) Capital and Development Fund, as Investment Director.
The three join the existing Investment Managers, Karl Hodson and Jane Siddle, and Administrator, Melanie Reynolds.
South Yorkshire Investment Fund (SYIF) is based at Reresby House, Templeborough, Rotherham – but caters for businesses throughout the county, and for companies wanting to relocate in South Yorkshire.
Another part of the change is that the Small Business Fund has been brought ‘in-house’ and is now managed by a SYIF subsidiary that is authorised by the Financial Services Authority.
Clive explained: "We will be looking at funding opportunities for small businesses – and helping companies who are wanting to grow and expand. This could be from companies looking for a range of ways to move their business forward, whether it is by moving premises or buying new equipment. This helps create jobs in the county and grows the South Yorkshire economy. We are here to help these growing companies achieve their full potential."
Tony Goulbourn, Chief Executive of SYIF, said "More than 140 businesses have received loans or investments from the Small Business Fund up to now. Our team has now expanded and the team will continue to grow in strength and help more and more businesses who are either in South Yorkshire or who want to relocate here."
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.
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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).