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The Greater Manchester Export Fund (GMEF)

The Greater Manchester Export Fund (GMEF) is here to help small and medium-sized businesses across Greater Manchester significantly increase their export sales.

The aim of the project is to create or protect over 1,000 jobs in Greater Manchester, as well as leverage over £35million of private sector investment through export-led growth. There are two ways we can provide your business with financial support:  grant-support or a short-term loan. You can find out more about each of these funding options below:

The GM Export Grant Fund

The GMEF Grant Fund will provide capital and revenue investment to support significant export-led growth projects. The grant is available for up to a maximum of £500,000 and will provide funding towards capital equipment, product development, skills, training and international consultancy outgoings.

All projects must be completed by 31 May 2017.

There will also be £1,500 fee for successful applications to cover the cost of an independent financial appraisal as part of the due diligence process for grant funding.

All grant applicants need to demonstrate:

  • Total project costs
  • Amount of your company funds being contributed to the project
  • Amount of grant funding needed (the shortfall)

Please note: administrative fees are not payable to Manchester Growth Company and grant funding will only be paid on receipt of suitable evidence of eligible expenditure.

Interested companies should complete and submit an Expression of Interest Form. Alternatively, please call Kate Simcock on 0161 237 4219 or email gmexportfund@manchestergrowth.co.uk for further information.

The GM Export Loan Fund

The GMEF Loan Fund will provide short-term loans of up to £500,000 to enable small and medium businesses fulfil export orders. Support is targeted at businesses which cannot access export finance from other sources due to their lack of export history, small scale or perceived high-level of risk.

Product criteria:

  • Loan value: £3,000 – £500,000
  • Term: Up to 4 months
  • Security: Personal Guarantee
  • Interest rate: 8% -15% per annum
  • Fees: 3% set-up fee
  • Bank decline: Yes

Interested companies must complete and submit an Expression of Interest Form. Alternatively, please call Andy Nichols on 0161 245 4736 or email gmexportfund@manchestergrowth.co.uk for further information.

 

Funding requirements

If you are successful, you will need to commit the following:

  • Submission of a project proposal, export action plan and an application for funding
  • Provide quarterly reports on the project’s progress
  • Provide suitable evidence of jobs created/safeguarded, new export orders received, increased turnover, etc, once the project is complete, so the impact can measured

Support is available to help you deliver the above should you require it.

The scheme is overseen by a private sector board who evaluate every application.

How to access the service

To find out more, please complete an Expression of Interest Form or email gmexportfund@manchestergrowth.co.uk for more information.

The Greater Manchester Export Fund is supported by the Regional Growth Fund.

Business Growth Hub
Churchgate House
56 Oxford Street
Manchester
M1 6EU

Contact
Tel: 0161 359 3050
Email: info@businessgrowthhub.com

Investing in England's North West - European Regional Development Fund
Partners Department for Business Innovation and Skills Finance Birmingham