Funding Organisations Help County's SMEs
Published: 15th March 2007
Pictured from the left is David Moody, SYIF Chairman; Tony Goulbourn, Chief Executive of SYIF; Clive Leach, YFM Group Chairman and Peter Garnham, MD of YFM Venture Finance.
Two funding organisations have formalised their commitment to work together to help South Yorkshires small to medium sized businesses (SMEs).
YFM Group (YFM) has worked with South Yorkshire Investment Fund (SYIF) over several years and helps businesses to meet any gaps in equity finance that they need for growth and development. YFM Group works with SYIF on its capital and development fund, which provides equity linked investments ranging from £100,000 to £2.5 million.
The two organisations have now signed a collaboration agreement which formalises their commitment to work hand in hand. This means the two organisations can continue to give clients increased competitiveness in the market place; help them work within a climate of innovation; and give them a better quality of service. The organisations will also work to create new funds in the region.
The agreement recognises the mutual long-term strategic objectives of both organisations. YFM specifically wants to build on its developed expertise of providing fund management services under local branding, such as SYIF.
The main aim of both organisations is to create the vehicle to provide long term support for small to medium businesses in the region.
Tony Goulbourn, Chief Executive of SYIF, said: We are pleased to join forces with YFM to provide an enhanced service to our clients and future clients. We have developed our relationship with YFM Group since SYIF started in 2001, and this move formalises our vision of a working partnership. One of our objectives, in this long term relationship is to increase the range and quality of service in the market place. We want our brand to be seen as the best service available for small businesses.
Clive Leach, Executive Chairman of YFM Group, said: We are delighted to continue the successful partnership with SYIF. Using our national networks and the pooled expertise, gained from being the UKs most active investor in SMEs, we look forward so continuing to support SYIFs work in assisting emerging and established companies in South Yorkshire
The agreement was overseen by Keeble Hawson solicitors.
For more information on how SYIF can help you, please call 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).