Northern Powerhouse Investment Fund (NPIF)

£400m of finance available for SMEs in the North – The British Business Bank together with the Local Enterprise Partnerships is holding a series of regional briefing events to tell local partners about the new £400m Northern Powerhouse Investment Fund (NPIF) and how to access it. The Northern Powerhouse Investment Fund, which has been established in conjunction with the European Regional Development Fund (ERDF), the European Investment Bank (EIB) and the UK Government will provide small and medium businesses with increased flexibility in the types of funding available, as well as boosting investment levels in the North. Find out more about the Northern Powerhouse Investment Fund here.

EAFRD Funding available

A total of £4.3m of is available to support projects throughout rural Cumbria.  There are currently three funding calls open;

• Food processing – grants to support food processing initiatives, increase innovation, export and business growth – click here.
• Tourism infrastructure – Improving or developing new visitor attractions aimed at increasing overnight stays and tourist spend – click here.
• Rural business development – supporting rural business growth including farm diversification, innovation, equipment purchase or premises improvements – click here.

Grants are available for up to £250k (minimum £35k) and there is a two stage application process.  Usually for every £30k of grant, a new job would be expected to be created.  The information on each of the individual funding calls is attached in the links as well as information on the application process.

All  grant applications will be received, processed and successful contracts awarded by the Rural Payments Agency (DEFRA).

If you would like any further information please contact Corinne Watson, Programme Manager, Cumbria LEP