£4M invested from community fund into local businesses who need it the most

First Enterprise- Enterprise Loans are delighted to announce they have delivered a total of £4 million to local businesses in the East and South East Midlands, with the Community Investment Enterprise Facility (CIEF) Fund.

The Responsible Finance provider has supported the growth of over 56 small and medium-sized businesses across the East and South East Midlands and safeguarded 167 jobs since.

With the funds facilitated by the Community Investment Enterprise Facility (CIEF), First Enterprise- Enterprise Loans can proudly support businesses in the UK wanting to create a better, sustainable future with business loans ranging from £25,001 up to £150k and for a term of up to 5 years.

CIEF was established by Big Society Capital and is managed by Social Investment Scotland and delivered on a local level in the East and South East Midlands region by First Enterprise- Enterprise Loans.

Some of the businesses First Enterprise- Enterprise Loans have helped with the CIEF fund include:

• SGD 3D Printing: Nottingham – based company specialising in 3D printing and design services received a £51,000 investment from First Enterprise – Enterprise Loans through the Community Investment Enterprise Facility (CIEF) backed by the Coronavirus Business Interruption Loan Scheme (CBILS). The funds were used to purchase new printing machinery to increase production and reduce manufacturing costs.
• Universal Supply Chain & Solutions: Northampton – based supply chain and packing company received £200,000 from Midlands Engine Investment Fund (MEIF) and Community Investment Enterprise Facility (CIEF) backed by the Recovery Loan Scheme (RLS). The funds were used to invest in a new packaging line to enable a stable revenue stream and allow for further contracts to be taken on.
• All Good Skincare: Nottinghamshire-based manufacturer and retailer of natural cosmetics, received a £50,000 investment from First Enterprise – Enterprise Loans through the Community Investment Enterprise Fund (CIEF), supported by the Recovery Loan Scheme (RLS). The funds were used to strengthen its supply chain and invest in marketing.

Daniel Carrico, Executive Director, First Enterprise- Enterprise Loans,  Commented:

“Businesses across the United Kingdom need the backing of lenders who believe in their dreams, feel inspired by their ideas, and are motivated to provide funding to organisations that have been excluded by the mainstream providers.

Our ambition is to fund businesses to help them create or keep jobs, strengthen their local communities, and contribute to the wider economic prosperity of the United Kingdom.

First Enterprise is proud to have delivered over £4m worth of investments to businesses that make a real positive impact on society and look forward to supporting more in the future.”

Victoria Crisp, Investment Manager, Big Society Capital, Commented:

“The importance of local businesses such as SDG, Universal and All Good for improving employment and economic performance in what are often deprived areas can’t be overstated. It is vital that there is provision for these firms to access finance – particularly since they are often excluded by mainstream lenders.

“We are therefore thrilled that thanks to the hard work of our partners at First Enterprise and Social Investment Scotland the Community Investment Enterprise Facility has reached this impressive milestone, in turn supporting 56 small and medium-sized businesses across the East and South East Midlands in creating sustainable futures for their communities.”