Northern Powerhouse Investment Fund II — What North West Businesses Need to Know
If your North West business needs serious funding to grow — whether that’s hiring staff, launching a new product, or scaling up operations — the Northern Powerhouse Investment Fund II (NPIF II) is one of the most significant sources of finance available to you right now.
Here’s everything you need to know in plain English.
What is the Northern Powerhouse Investment Fund II?
The Northern Powerhouse Investment Fund II delivers a £660 million commitment of new funding to smaller businesses, aiming to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. Cheshireandwarrington
It is operated by the British Business Bank — the government-backed bank specifically set up to help smaller businesses access the finance they need to grow.
Does it cover the North West?
Yes — and specifically your patch. The fund covers the entire North of England including Greater Manchester, Liverpool City Region, Lancashire, Cheshire & Warrington, and Cumbria. If your business is based anywhere across the North West, you are in scope. Concierge UK
How much can you get?
NPIF II can support you with micro-finance loans between £25,000 and £100,000 for new or growing businesses to support working capital needs, debt finance between £100,000 and £750,000 for early stage or more established businesses that can demonstrate growth potential, and early stage and later stage equity finance of between £50,000 and £2 million for established businesses with ambitious plans or large scale start-ups with high growth potential. Cotswoldsconcierge
In summary the three funding routes are:
Smaller Loans — £25,000 to £100,000 For new or growing businesses needing working capital. The most accessible entry point for smaller North West businesses.
Debt Finance — £100,000 to £2 million For businesses with proven growth potential needing larger amounts to expand — new hires, new premises, new product lines.
Equity Finance — up to £5 million For ambitious, fast-growing businesses willing to exchange a share of equity for significant investment capital.
Who can apply?
The fund is open to new start-ups, early stage companies, fast growing small businesses, established SMEs, small businesses looking to locate or relocate in the North of England, and businesses unable to source funding from banks or investors. Cotswoldsconcierge
Support is available to most types of businesses, though eligibility is assessed on a case by case basis.
How to apply
NPIF II funding is delivered through a network of approved fund managers rather than directly through the British Business Bank. For North West businesses the key fund managers to approach are:
- FW Capital — debt finance across the North West
- River Capital — microfinance loans across the North West
- Maven Capital Partners — equity finance
Start at the British Business Bank website to find the right fund manager for your location and funding need.
👉 Find your fund manager at: british-business-bank.co.uk/finance-options/nations-and-regions-investment-funds/northern-powerhouse-investment-fund-ii
Want to stay on top of North West funding opportunities?
Join the NW Funding Radar — we track NPIF II updates and dozens of other funding opportunities across the North West every week. Plain English alerts, no jargon, straight to your inbox.
info@northwestfundingradar.co.uk
Related funding worth exploring:
- Innovate UK Business Growth — innovation grants for North West SMEs
- Key Fund North of England — grants and loans for social enterprises
- UKSPF Business Support — Cheshire East grants for eligible businesses