FW Capital promises Northern Powerhouse investment for Cumbrian SMEs with new Penrith base

Fund manager FW Capital has this week established a new Cumbria office that will house two dedicated investment executives.

The opening of the firm’s new base in Penrith, which follows the February launch of the Northern Powerhouse Investment Fund (NPIF), will aim to make funds more accessible to Cumbrian SMEs through NPIF – FW Capital Debt Finance.

Maria Ramsdale, one of the two investment executives, will work from the Cumbria LEP Conference Centre.

With over 20 years of banking experience, she will give businesses in the county as much access to the fund as their Northern big city counterparts.

Investment executive Maria Ramsdale said: “I’m delighted to have joined FW Capital at the beginning of this exciting new fund.

“FW Capital has an excellent reputation in the SME funding market and I’m excited about bringing this to local Cumbria advisors and businesses.”

FW Capital provides loans of between £100k and £750k, operating from six offices in the North.

FW Capital fund manager Gary Guest commented: “The appointment of Maria to the FW Capital team is an important part of our commitment to delivering NPIF funds across the region.

“Her local knowledge and experience will be crucial in ensuring that SMEs in Cumbria benefit from their fair share of the NPIF fund.”

George Beveridge, chair of the Cumbria LEP, said the launch “is about improving funding options and opportunities” that support companies all over the county.

He continued: “It will complement the business support activity already delivering jobs and growth here, and it will be an important part of the finance mix alongside banks and other gap funding programmes.”

NPIF represents a collaboration between the British Business Bank and 10 Local Enterprise Partnerships (LEPs), combining £400m of funding to enhance the Government’s Northern Powerhouse vision.

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