River Capital has deployed £10m through the North West Business Growth Loan Fund (NWBGLF), less than four years after launching the initiative to support SMEs across the region.
The fund, which launched in October 2022 on behalf of investors TDC and MSIF, provides loans of between £100,000 and £500,000 to businesses seeking finance for growth, acquisitions, succession planning and working capital.
To date, the fund has backed 38 businesses across the Liverpool City Region, Greater Manchester and Lancashire, with investments spanning sectors including energy, specialist recruitment, construction equipment, professional services and hospitality.
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Among the businesses supported are Stockport-based energy optimisation company Powerhub Solutions and Liverpool-headquartered building surveying and construction consultancy Actua, which secured funding to complete a management buyout.
The portfolio also includes The Hospitality Collective, a group of independent hospitality businesses across the North West, which received funding through a single coordinated investment.
According to River Capital, a number of businesses backed by the fund have already repaid their loans ahead of schedule.
Jim Moore, Business Growth Loan Investment Manager at River Capital, said: “£10 million deployed into 40 ambitious North West businesses is a real milestone for this fund, and one we’re proud of. What stands out isn’t just the scale, it’s the breadth – from energy and construction to hospitality and professional services – and the strength of the relationships behind every deal. Several businesses have already repaid ahead of schedule, which speaks volumes about the calibre of the management teams we’re backing and the value of taking a long-term, partnership-led approach to growth funding.”
John Gray, Head of Debt at River Capital, added: “River Capital has been proud to deliver the North West Business Growth Loan Fund since its launch in October 2022, working alongside cornerstone investors MSIF and TDC to build this portfolio from the ground up. Reaching £10 million deployed across 40 businesses is a strong demonstration of what’s possible when patient, regionally-focused capital is matched with the right delivery partner. It’s particularly pleasing to see businesses repaying ahead of schedule – that’s the kind of outcome that lets us keep recycling capital back into ambitious North West SMEs for years to come.”
