Eastmeare Financing (“Eastmeare”), part of Beechbrook Capital, today announces its launch as the debt fund manager of the £140 million East of England Investment Fund, which the British Business Bank unveiled in Norwich on 23 September.
The £140m East of England Investment Fund covers the entire East of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The East of England Investment Fund is being managed by two fund managers appointed by the British Business Bank. Mercia Ventures will manage the equity investment element of the Fund, while Eastmeare will manage the debt finance.
Part of Beechbrook Capital, Eastmeare is a dedicated lender to East of England SMEs.
It will provide secured loans of £25,000 to £2 million to smaller businesses across Norfolk, Suffolk, Cambridgeshire, Essex and Hertfordshire to support investment, growth and job creation. Its lending will support a broad range of businesses, from younger companies through to established businesses with a longer track record.
Eastmeare brings Beechbrook’s established track record in lending to UK and European SMEs to the region. Rather than starting from scratch, it draws on Beechbrook’s existing investment team, credit process and governance, and adds a dedicated regional team embedded in the local business community. Its regional originators and ambassadors spend most of their time working alongside the region’s accountants, advisers, banks and business networks, and Eastmeare will continue to grow that team as the Fund builds.
Eastmeare has invested in a purpose-built digital lending platform, designed to provide business owners with a clear and straightforward route from initial enquiry to credit decision.
Eastmeare will work closely with Mercia Ventures to ensure businesses can access the form of finance that best suits their individual needs, whether debt or equity.
The appointment continues a long-standing relationship between Beechbrook and the British Business Bank. Eastmeare is a natural extension of that partnership, bringing the same approach to SME lending directly to businesses in the East of England.
“The East of England has an exceptional depth of ambitious, well-run smaller businesses. Lending to companies like these is what Beechbrook has always done, and Eastmeare allows us to bring that experience directly to the region. We are grateful to the British Business Bank for its continued confidence in us.”
“Our focus is simple: to be a responsive, knowledgeable lender that business owners and their advisers want to work with. We already have people on the ground across the region, and we are looking forward to meeting the businesses, intermediaries and networks that make the East of England such a strong economy.”
“The newly launched East of England Investment Fund will provide a significant boost to businesses across the region and help stimulate growth. The East of England is a hotbed of innovation and research, but too often businesses struggle to access the finance they need to grow and thrive. The launch of the Fund alongside the partnership with Eastmeare Financing will help to bridge this gap, unlocking finance for businesses and supporting prosperity throughout the region”
The purpose of the East of England Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the East of England. The East of England Investment Fund will increase the supply and diversity of early-stage finance for the East of England smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
Businesses and advisers can find out more and make an enquiry at eastmeare.com.
Notes to editors
About the East of England Investment Fund
Operated by the British Business Bank, the East of England Investment Fund provides a mix of debt and equity funding. The East of England Investment Fund will offer a range of commercial finance options with loans from £25k to £2m and equity investment up to £5 million.
The East of England Investment Fund is open to businesses with material operations in, or those planning to establish material operations, in: Essex, Suffolk, Hertfordshire, Norfolk, Cambridgeshire and Peterborough.
Supported by Nations and Regions Investments Limited, a subsidiary of British Business Bank plc, the Bank is a development bank wholly owned by HM Government. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at www.british-business-bank.co.uk
The Nations and Regions Investment Funds increases the supply and diversity of early-stage finance for UK smaller businesses, providing finance to firms that might otherwise not receive investment and help to break down barriers in access to finance.
About Eastmeare
Eastmeare is the debt fund manager of the East of England Investment Fund, providing secured loans of £25,000 to £2 million to smaller businesses across Norfolk, Suffolk, Cambridgeshire and Peterborough, Essex and Hertfordshire. Eastmeare is part of Beechbrook Capital.
About Beechbrook Capital
Beechbrook Capital is a European private debt manager with approximately €1.5 billion of assets under management, specialising in lending to small and medium sized businesses. It has offices in London, Birmingham, Leeds, Cork and Frankfurt.
The investment from the Nations and Regions Investments Limited into Eastmeare Financing Ltd does not amount to any endorsement or warranty from Nations and Regions Investments Limited, the British Business Bank plc or the government of the United Kingdom.
Media enquiries: enquiries@eastmeare.com
