Finance Yorkshire has welcomed two new appointments to its Business Loans and Micro-Loans team.
Mike Barber joins as investment manager and Claire Naylor as fund executive following the launch of Finance Yorkshire’s new fund, which is expected to provide £50m to SMEs over the next five years.
Mike brings a wealth of financial services experience in the Hull and Humber area following more than three decades with NatWest. Claire previously ran her own bookkeeping business following a career in banking across West Yorkshire.
Paul Wainwright, Head of Finance Yorkshire’s Business Loans and Micro-Loans funds, said: “We are delighted to welcome Claire and Mike to the Finance Yorkshire loans team as we accelerate our investment support for SMEs looking to grow within Yorkshire and Humber.
“Mike and Claire both have the experience and knowledge to provide the finance required for SME growth and will be instrumental in ensuring that we deliver for start-up and growing businesses across the region.”
Alex McWhirter, chief executive of Finance Yorkshire, said: “Our new fund is designed to support growing SMEs to expand, create jobs and improve productivity, especially those that are unable to access finance from traditional sources. Mike and Claire’s experience will help us to get investment to the right businesses, enabling them to reach their full potential.”
Finance Yorkshire’s new fund is expected to invest more than £50m over five years as it continues to realise its investment portfolio from its earlier fund. The fund has been structured to provide SMEs with a range of support through four funding streams: Seedcorn and Growth Fund (primarily equity) investments, along with Business Loans and Micro-Loans.
The Business Loans and Micro-Loans funds are managed by The FSE Group.