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Government backed mezzanine funding scheme launched

On November 23rd, 2011, posted in: Recent Finance Deals and Articles by

The government is to invest £50 million into a mezzanine debt scheme that will take the rest of its funding from Santander.

The new fund – which will compete directly with the rival Business Growth Fund for business from firms wishing to expand – will be awarded the £50 million from the government’s £1.4 billion Regional Growth Fund.

According to The Telegraph newspaper, the mezzanine funding will focus on firms which have strong growth plans in place and are looking to expand in regions outside of the South East and London.

Many business owners who do not want to sell a stake in their business to an external investor in order to achieve the funding necessary for growth, are tipped to look favourably upon the scheme.

This new fund will be Santander’s answer to the Business Growth Fund, which is backed by banks including RBS, HSBC, Lloyds, Barclays and Standard Chartered.

The Growth Fund offers deals of between £2 million and £10 million to firms across the country who are looking to expand. The fund was initially created as part of the numerous Business Finance Taskforce commitments that were held last year.

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