Mercia Fund Managers has expanded its team in Yorkshire and the Humber with the appointment of David Wright as investment manager.
David will be one of the nine-strong team providing local businesses with loans of £100,000 to £750,000 from NPIF – Mercia Debt Finance, which is part of the Northern Powerhouse Investment Fund and is managed by Mercia Fund Managers.
David has extensive experience in banking and finance, having spent almost 30 years with Yorkshire Bank and the past six years as a commercial finance broker sourcing funding for businesses and property developers. Born and brought up in Bradford, he now lives in Ripponden.
Working alongside Jonathan Craig, David will be based in Mercia’s Leeds office, focusing on the City Region, in particular the Bradford, Kirklees and Calderdale area. He will also work closely with the Growth Hub and its team of business advisers.
David Wright said: “I am delighted to join the Mercia team and having worked in West Yorkshire for my entire career, I know the region very well with its diverse range of businesses. I look forward to working with the NPIF Debt team to help companies grow and prosper, and I’d invite any businesses from the area to get in touch for an informal chat if they would like to find out more about the fund.”
Paul Taberner, fund manager for NPIF – Mercia Debt Finance, said: “David has strong connections within the local business community and a wealth of experience on both sides of the ‘fence’ – working on behalf of a bank and for businesses seeking funding. He is ideally suited to join the NPIF – Mercia Debt Finance team, which helps businesses to access finance for growth and has provided over £8.3million to Yorkshire and Humber firms since its inception in February last year.”
Roger Marsh OBE, chair of the Leeds City Region Enterprise Partnership (LEP) and the NPIF oversight board, said: “The Leeds City Region economy, worth £66.5 billion and the largest city region outside London and the South East, is home to 122,000 businesses and a burgeoning start-up community, which brings huge economic benefits to the North and the UK’s competitiveness.
“The Northern Powerhouse Investment Fund, alongside other support such as the Leeds City Region Enterprise Partnership’s (LEP) business growth service, is paying dividends across the region with increased growth and high quality jobs.”
Grant Peggie, director at British Business Bank, said: “Having dealt with Yorkshire-based businesses for over 30 years, David has developed an unrivalled knowledge of the local business landscape. With David on board, the NPIF – Mercia Debt Finance team are in an excellent position to build on their initial success and will continue to fund ambitious SMEs with great growth potential.”