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Team invest more than £10 million

Published: 17th July 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.

South Yorkshire Investment Fund’s Small Business Team has injected more than £10 million into businesses within the region.

The team, which offer loans ranging from £15,000 to £150,000, have just invested £75,000 into Sheffield-based Image Decorations Limited, taking the amount they have invested over the last 4 years to just over £10 million.

Recently South Yorkshire Investment Fund’s (SYIF) small business team has recruited several new members to the team to enhance its services even further.

Clive Downward, Investment Director for the Small Business Fund, said "We continue to receive applications from a wide range of South Yorkshire businesses who are wanting to grow or expand; whether by investing in new machinery or moving premises. We are here to help these businesses achieve their full potential."

Tony Goulbourn, Chief Executive of SYIF, said "One hundred and fifty businesses have received loans or investments from the Small Business Fund over the last few years. It’s a great achievement.  SYIF’s Small Business Fund team are helping to inject funding into companies in the county and in effect, helping to boost the local economy. The team do a brilliant job and they will continue helping small companies in the region to tap into the funding they need."

The Small Business Fund offers loans 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 early stage businesses.

Through its various teams, Rotherham-based SYIF can provide loans and equity investments ranging from £15k to £2.5m to businesses in, or prepared to relocate to, South Yorkshire. The Fund has already invested over £21 million in 173 businesses.

For more information on how SYIF can help you, please go to www.syif.com or call 01709 386 377

Editor's Notes

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.
http://www.finance-yorkshire.com

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).