Business Growth Fund to represent 'alternative lending'
The launch of the £2.5bn Business Growth Fund will help to focus investors on growth opportunities in the Midlands, according to PwC. The Birmingham-headquartered fund is set to launch tomorrow (Thursday 19 May).
The fund will be "welcomed by businesses across the UK at a time when some lenders continue to be cautious", said the accountancy firm.
Russell Worrall, partner at PwC in the Midlands, said: "In some cases, SMEs have been finding it difficult to obtain finance for their growth plans. The launch of the Business Growth Fund provides a welcome alternative source of finance for businesses focused on growth and is likely to boost investment activity in the region.
"The arrival of the Business Growth Fund will add impetus to the investor marketplace as a whole and help to turn interest into more action."
Worrall added that Birmingham has "long been a hub for investors" who are interested in the mid-tier marketplace. The arrival of the Business Growth Fund will bring more options to the table for both local and national SMEs, he said.
Headquartered in Birmingham, the Business Growth Fund is officially launching on Thursday (19 May) at One Victoria Square.
