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NPIF – FW Capital Debt Finance hits £20m impact milestone in Liverpool City Region

Liverpool City Region’s economy has been boosted by well over £20m thanks to the impact of FW Capital and the Northern Powerhouse Investment Fund (NPIF).

£12m of the funds have been deployed directly by NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF), with over £11m attracted from private sector investors. Nearly 200 jobs have been created as a result of the investments.

FW Capital has invested into a wide variety of sectors in the region, ranging from manufacturing and construction to social care. They are now able to lend to B2C businesses and are keen to talk to businesses in the retail, hospitality, and leisure sectors about how NPIF could help them reach their growth ambitions.

Carol Bolland, an investment executive in FW Capital’s Liverpool office said:

“We can invest from £100k to £750k through debt finance. Therefore, businesses can access high value finance without having to consider equity funding. This means they don’t have to sell a stake in their business and can retain full control.

“Our ability now to invest in B2C businesses means that we are able to lend to some of the sectors hardest hit by the pandemic such as hospitality. We are delighted that we can now help to support them as the economy recovers and we would encourage these businesses to get in touch regarding the Recovery Loan Scheme which we are accredited for”

One notable NPIF – FW Capital investment in to the B2C sector in the Liverpool City Region is Wirral Care Services which received a loan last year to support the business through the uncertainty caused by the pandemic.

The company is run by husband-and-wife team Mike and Catharine Chalton with offices in Prenton and West Kirby. It provides specialist dementia care and domiciliary care services to the elderly and vulnerable throughout the Wirral area.

Asif Hamid MBE, Chair of the Liverpool City Region Local Enterprise Partnership (LEP) said:

“NPIF has provided valuable support to our business community since its launch in 2017 and it is fantastic to see the impact it is having on unlocking business potential and that NPIF – FW Capital Debt finance has created nearly 200 jobs in the City Region.

“NPIF and other such funds can help innovative businesses sustain and grow, ultimately creating the opportunities that will help drive the recovery of our City Region. In these challenging times I would encourage other businesses with the potential for growth to take advantage of the support and funding that is out there.”

Mike Chalton said:

“The pandemic caused a great deal of uncertainty in the care sector and we needed a buffer to ensure that we could continue to offer a high quality care service to our customers, many of who were left even more isolated and vulnerable. Companionship is a major issue in normal circumstances, but it was made even worse.

“We received a loan which helped to cover additional costs to the business such as PPE and recruiting extra staff. FW Capital clearly guided us through the funding process, and we were able to access the finance in a short period of time.

Despite 2020 being a difficult year, we have managed to grow and recently acquired an office in Chester so we will expand our offering to the Chester and West Cheshire area.”

Sue Barnard at British Business Bank said:

“FW Capital has played an important part in the success of the Northern Powerhouse Investment Fund, helping to deliver vital funding focused on small businesses across Liverpool, the North West, and Tees Valley since 2017. NPIF has played a crucial role in ensuring many businesses have been able to survive the pandemic and now can recover and rebuild.

“We congratulate FW Capital on reaching this milestone and with their help, alongside our other accredited fund managers, NPIF will continue to support growing businesses across the North.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.