More ambitious businesses from across parts of Hampshire and Surrey will be able to access vital funding to help them grow from today, as the Enterprise M3 Local Enterprise Partnership launches a new £10million Funding Escalator.
The Funding Escalator, which will be managed by The FSE Group, will be available to small and medium sized enterprises (SMEs) for activities that have the potential to deliver economic growth and job creation in the Enterprise M3 area. The new fund consists of three separate products: a medium-term loan facility, an equity investment fund and a short-term trade loan facility.
Dave Axam Chair at Enterprise M3 says: “There is an evidenced lack of appropriate commercial finance for businesses that wish to scale-up, particularly for new, fast-growing companies with lots of growth potential but little trading history. The FSE Group has vast lending and investing experience in this sector and has successfully delivered SME loans and investments on our behalf since 2014. We are delighted to maintain our relationship via this new initiative and continue our work together.”
Chief Executive of The FSE Group, Dean Mayer, adds: “This is a welcome endorsement of the work FSE is doing across the Enterprise M3 and other LEP areas, to support high growth SMEs and help them reach their full potential. Our approach provides rounded support over and above the money itself, ensuring the best possible outcomes for our portfolio companies and ultimately, the local economies in which we operate. We are excited to be managing this new £10million of funding on behalf of Enterprise M3 LEP and look forward to offering even more high-quality funding solutions to Enterprise M3 businesses.”
About The FSE Group:
The FSE Group provides tailored funding solutions and support for ambitious and innovative small and medium enterprises (SMEs), to help them achieve their maximum potential. This includes the Enterprise M3 Funding Escalator, which is one of a number of Local Enterprise Partnership backed funds that The FSE Group manage. For further information about the range of products and services offered by FSE, visit www.thefsegroup.com
About Enterprise M3 Local Enterprise Partnership – www.enterprisem3.org.uk
Enterprise M3 is a business-led Local Enterprise Partnership, one of 38 in England, which is working to secure economic growth at sub-national level. We bring together leaders from the business, public and not-for-profit sectors and provide the vision, knowledge and strategic leadership needed to drive sustainable private sector growth.
Our aim is to create the foundations on which our businesses can flourish. We strive to improve business productivity, increase jobs and maximise the number of businesses operating across Enterprise M3. We have a particular focus on improving trade links working with Invest in Surrey and Invest in Hampshire.
The Enterprise M3 LEP area stretches from the hinterland of London to the New Forest covering mid to north Hampshire, as well as, South and West Surrey. The LEP area brings together business leaders from 14 district authorities across two counties and has four major interconnected urban centres known as ‘Growth’ towns: Woking, Guildford, Farnborough and Basingstoke and five ‘Step-up’ towns: Staines-upon-Thames, Camberley, Aldershot, Whitehill and Bordon and Andover.
The councils involved in the Enterprise M3 LEP are:
Hampshire County Council, Surrey County Council, Basingstoke and Deane Borough Council, East Hampshire District Council, Elmbridge Borough Council, Guildford Borough Council, Hart District Council, New Forest District Council, Runnymede Borough Council, Rushmoor Borough Council, Spelthorne Borough Council, Surrey Heath Borough Council, Test Valley Borough Council, Waverley Borough Council, Winchester City Council, Woking Borough Council