North East Finance Appraisal
JEREMIE is a major European Commission and European Investment Fund initiative for the use of ERDF to support the finance needs of small and medium sized businesses. The schemes usually provide a mix of equity and loan finance to firms. The scale and complexity of the schemes which have come forward means that rigorous technical Green Book appraisal is fundamental to securing the necessary approvals from partners.
We worked closely with the ERDF Programme Secretariat in the North East of England and North East Finance in undertaking the appraisal. We were able to draw on our unrivalled understanding of the likely financial outcomes and economic impacts of venture capital and loan funds in the UK. We tested whether the proposed investment of £50m ERDF into the £130m fund would provide value for money. The analysis included a detailed review of the demand for finance from SMEs and appraisal of the proposed fund.
Following a presentation by partners (including Regeneris) to Government, the £130m Fund was approved. It has been investing in start-ups and expanding SMEs in the North East, helping to drive economic growth in the region, since 2010.
A Rigorous Economic Appraisal to test the effectiveness of £130m fund in supporting finance needs of SMEs and drive economic growth in the North East.
Client: North East ERDF Team and North East Finance