How the North East Elevate Fund is powering regional business growth
When ambitious business owners have a clear vision for growth, access to the right financial backing can make all the difference. Throughout the North East, passionate entrepreneurs are proving this by driving powerful growth in our local economy.
At the forefront of this economic momentum is the North East Elevate Fund, which is part of the North East Mayor Kim McGuinness’ £100m regional investment framework administered by The North East Fund. It aims to strengthen access to early-stage finance for start up, scale up and growing companies in North East England, and tackle long-standing market failures that have hampered innovation-led growth in the region.
The fund is designed to stimulate regional growth and create high-quality, sustainable jobs. It is managed by FW Capital and our team of local finance experts, to deliver tailored financial packages starting at £25,000, and is scaling up to investments of £1million for more established businesses. The North East Elevate Fund can help businesses who may be at the start of their journey, or more established, with finance to help them grow and evolve.
Loans are available on terms up to 5 years, and can be used for a variety of purposes including:
Working capital
Purchasing equipment
Recruitment
Marketing
Product/service development
ESG initiatives
Buying a business
A prime example of this momentum in action is Newcastle-based boutique gym operator PhysiquePro, which has secured a vital six-figure investment from the North East Elevate Fund. This capital injection is helping the luxury health and wellness brand fund the fit-out and launch of its third regional location in Ponteland.
Ryan Bolton Director at PhysiquePro said: “We’re excited to bring the PhysiquePro gym to the affluent area of Ponteland. It’s been designed for those who demand the best in every aspect of their lives, offering an unparalleled luxury fitness experience. We’re especially excited to debut our exclusive, four-person group classes as part of a packed schedule of 40 weekly workouts. A massive thank you to FW Capital whose instrumental support has enabled us to execute a flawless fit-out and gear up for an unforgettable launch.”
Matt Elliott, Senior Investment Executive at FW Capital said: “PhysiquePro has successfully created a premium boutique gym experience and it’s fantastic to work with them as they embark on this exciting next chapter. The boutique fitness sector is evolving rapidly, and PhysiquePro stands out for its exceptional brand loyalty, premium offering, and clear vision. Helping ambitious local businesses to grow is exactly what the fund was designed for.”
To find about more about the North East Fund and its Elevate and Accelerate Funds, visit www.northeastfund.org. If you want to find out how we can support your business please email info@fwcapital.co.uk or visit our website www.fwcapital.co.uk