Finance for Enterprise
Finance For Enterprise help SME businesses to unlock their growth potential. They are one of the most trusted and respected alternative lending providers in the North of England. In just 5 years, Finance For Enterprise has provided £37 million of loans. This funding has helped to create more than 1400 new jobs with a further 1800 roles safeguarded, resulting in a net economic contribution of more than £140 million.
Jeremy Meadowcroft is this week’s guest on The Next 100 Days Podcast.
How Does Graham Get Away With This?
Jeremy says he is a gap funder. He lends to people that fall through the finance gap.
Bank’s Have Changed
This is how Funding for Enterprise helps its clients.
Where Does FFE Get Its Money From?
Primarily, FFE are central government funded. They are what is called a CDFI. It stands for a COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION.
Here Jeremy gives the case for using Government money.
Why Can’t Certain Organisations Access Funding?
They lack security.
They lend over a term that will make the rate feasible and affordable. And because they are a not-for-profit organisation they do not charge early redemption charges, so when they lend over 3 or 4 or 5 years, and you pay pay early, that’s fine. They’ll just scoop up that money and recycle it to another worthy cause. So if the Govt gives them £10m, 5 years ago, they’ll manage to lend about £50m on the back of that initial Government fund.
How to get in Touch with Jeremy Meadowcroft
Just click the image below.
Jeremy Meadowcroft’s Testimonial
The Next 100 Days co-hosts…
Graham runs Finely Fettled to help organisations that want to market to affluent and high-net-worth customers. He also runs Meet Professionals, which is offered to financial advice groups as a white-labelled lead generation and conversion system. Contact Graham on LinkedIn: Visit Graham’s LinkedIn Profile and by email.
Kevin specialises in finance transformation and implementing business change. He’s the COO of GrowCFO which provide both community and CPD-accredited training designed to grow the next generation of finance leaders. You can find Kevin on LinkedIn and at kevinappleby.com