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Profile Summer 2008 Newsletter

New rebate scheme introduced

South Yorkshire Investment Fund has introduced a new rebate scheme to ensure loans continue to provide affordable gap finance for local businesses.

The rebates are available for established businesses submitting applications for investment from SYIF up to the end of 2008.

It follows an increase in demand for SYIF investments, due partly to the current economic climate, which has meant the previous rebates available through the Money with Management scheme are now fully committed.

The new rebate scheme will be based on whether a business is rated as established and profitable or established.

South Yorkshire Investment Fund, Chief Executive Tony Goulbourn, said: "SYIF exists to offer funding when alternative finance may not be available. We do not compete against the banks, but provide a service which fills a gap in the market.

"In arriving at these rebates we have had to consider the latest State Aids guidance and this means rates will need to be reviewed in the light of prevailing market interest rates.

"However, we have also taken into account market rates for unsecured gap finance and we feel our pricing is competitively placed."

For more information about the rebates, please visit www.syif.com

Meanwhile, the investments made by SYIF into local business have passed the £45 million-mark (including Money with Management). The funding has assisted 1,666 businesses, created and safeguarded 7,342 jobs and has a forecasted sales growth of £420 million.

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Editor's Notes

About South Yorkshire Investment Fund

South Yorkshire Investment Fund can provide 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 provides access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.

For further details please contact Suzanne Tinkler, SYIF Marketing Manager, on 01709 386 381.

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).