The Growth Loan Fund II is a £30m fund backed by Invest NI through ERDF funding.
The Fund will provide commercial loans of typically between £100k and £500k to fund growth, but has the ability to provide funding of up to £1.5m.
Loans will be provided on a flexible basis over a 2-7 year period. In addition, the Fund will have the ability to provide capital and/or interest moratoriums and partial bullet repayments to align with the cash-flows of the business.
The loans will typically be provided on an unsecured basis however second ranking charges or appropriate security may be sought where relevant.
Funding is complementary to existing sources of finance including banks, trade finance and equity.
The Fund will also be able to support transaction related opportunities, this will come with certain restrictions in relation to the overall funding structure and the level of new capital being invested alongside the Fund.