New accreditation will now allow The FSE Group to issue loans from the Midlands Engine Investment Fund (MEIF) Debt Fund backed by a Coronavirus Business Interruption Loan Scheme (CBILS) guarantee.
Following the launch earlier this year of a further £40 million MEIF Debt Fund by the British Business Bank, appointed fund manager, The FSE Group, is also today revealing the team managing the fund.
The additional MEIF money provides loan funding between £100,000 and £1.5 million to small and medium enterprises based across the whole of the Midlands, to facilitate growth.
This latest phase of investment addresses regional demand for alternative debt finance options and brings the number of MEIF funds to eight, with The FSE Group working alongside six other MEIF fund managers.
The FSE Group’s MEIF team will be led by Andy Moss who comes to FSE from Lloyds, where he has spent more than 34 years building a strong network in the finance community across the Midlands.
He is joined by four fund managers and a fund executive, who are working to deliver investments to growing businesses across the whole of the Midlands region.
“The FSE Group is a niche lender with a unique approach, focusing on business potential, rather than security available, to help growing businesses reach their full potential,” he said.
“I am excited to be part of this dynamic team and look forward to leading the successful delivery of this latest MEIF funding.”