A £660m fund that aims to boost businesses across the North wants to counter the “computer says no” attitude of some traditional lenders, a senior executive has said.
The Northern Powerhouse Investment Fund II (NPIF II) has been launched by the British Business Bank, which was set up by the Government to increase the supply of credit to small and medium enterprises. It follows an earlier Northern Powerhouse fund, which ran from 2017 and delivered more than £1.1bn to businesses in the North, helping to create 8,500 jobs.