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Am I Eligible

Small and Medium sized enterprises (SMEs) within the European Union definition of an SME (up to 250 employees, €43m turnover).

Investments will be made in support of activity in the northwest: businesses must be based within the region.

Businesses must be able to demonstrate:

  • Located in the Northwest - covering Greater Manchester, Lancashire, Merseyside, Cheshire and Cumbria, Merseyside.
  • Viable business plan
  • The ability for rapid growth.
  • Have an experienced management team, or the desire to build one.
  • The business is in a growing market, with a clear strategy for long term expansion.
  • Demonstrate competitive advantage - a clear technological advantage, a novel product or service or innovative distribution channel.

Businesses not generally eligible for loan finance from the fund:

  • Subject to collective insolvency proceedings.
  • Those in commercial property investment
  • Retail businesses
  • Those covered by EC sector restrictions including the production of synthetic fibres, shipbuilding, coal and steel, agriculture, including fisheries but excluding the processing and marketing of such products
  • Those which fall within the definition of a "business in financial difficulty" under the "Community Guidelines on State Aid for Rescuing and Restructuring firms in difficulty" *

* An SME, established for more than 3 years, shall be considered to be an undertaking in difficulty if it fulfils any of the following conditions:

  • in the case of a limited liability company, where more than half of its registered capital has disappeared and more than one quarter of that capital has been lost over the preceding 12 months
  • in the case of a company where at least some members have unlimited liability for the debt of the company, where more than half of its capital as shown in the company accounts has disappeared and more than one quarter of that capital has been lost over the preceding 12 months
  • where it fulfils the criteria under its domestic law for being the subject of collective insolvency proceedings.