First Enterprise has loaned over £1.1m to small and medium-sized enterprises (SMEs) in the East Midlands, marking a strong start to the 2024/25 financial year. This funding is part of the Midlands Engine Investment Fund II, a British Business Bank initiative aimed at improving access to finance and driving regional economic growth.
The loans, which ranged from £25,000 to £250,000, were distributed across businesses in Nottinghamshire, Derbyshire, Leicestershire, Northamptonshire, and Lincolnshire. Sectors benefiting from this funding included healthcare, digital marketing, IT, manufacturing, retail, education, and logistics. The loans are expected to create and safeguard more than 70 jobs, supporting businesses with expansion, equipment investment, and new service launches.
Diversity and inclusion have been key focuses in the funding process, with 24% of the businesses led by women and 60% by ethnic minority leaders. The diversity of the businesses reflects the region’s entrepreneurial spirit and the Midlands Engine Investment Fund II’s goal to offer inclusive financial opportunities.
First Enterprise’s quick disbursement of funds demonstrates the region’s robust business landscape and First Enterprise’s ongoing commitment to support SMEs throughout the financial year.
