South Yorkshire Investment Fund winding down

A LOAN fund responsible for creating and safeguarding more than 9,100 South Yorkshire jobs over the last decade is about to come to an end.

The South Yorkshire Investment Fund is about to relieved of its money-sourcing role—carried out on behalf of South Yorkshire businesses—with Finance Yorkshire now taking on responsibility for making money available to companies. 

Since being launched in 2001, SYIF has invested £60million to help businesses meet funding gaps to achieve growth and development.

More than 2,500 businesses have received assistance from SYIF—a thousand more than the target set at the outset—helping to create and safeguard 9,132 jobs.

Tony Goulbourn, chief executive of South Yorkshire Investment Fund, said: “The economic impact from the Fund, which is generated from combining both financial and mentoring support to businesses, will be re-invested back into South Yorkshire companies to benefit the region over the long-term. 

“Even though the first Fund has come to an end, we will continue to manage a number of investments made during the last few years which require on-going support to ensure maximum returns are provided.

“Due to the sustainable nature of the Fund we are expecting to see a legacy of approximately £20m by 2013 for this region.”

A constant success for SYIF has been their relationship with intermediaries and business advisers which have helped to indentify, establish and build the market for the Fund.

Tony added: “All our partners have been incredibly supportive and became the catalyst for economic development, business support and investment readiness, making the region more attractive to small business clients, other investors as well as businesses looking to move to the region.

“Following the recent launch of Finance Yorkshire, it is important that our existing clients and the small and medium businesses in South Yorkshire are provided with a seamless and continuous flow of finance from the Fund.”

Finance Yorkshire, supported by Yorkshire Forward, will invest £90million in businesses across the region and is set to complete a four-year investment phase by 2014.

The Fund can provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2m, specifically to help small and medium businesses across Yorkshire and the Humber meet the gaps in funding they need for growth and development.

For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or ring 0845 649 0000.