After the success of the initial Midlands Engine Investment fund, which was launched by the British Business Bank in 2017, it was recently announced that there will be a further investment of £400m (MEIF II) in early 2024. This additional funding will continue to support SME businesses across the region, helping to drive sustainable economic growth and level up access to finance in the Midlands. This commitment brings the total investment specifically earmarked for the region to over £700m since 2017.

 To date, the MEIF has invested over £200m, created 2,370 jobs, and unlocked £301m of private sector co-investment. MEIF II will provide support to businesses at various stages, from smaller loans (£25k to £100k) to debt (£100k to £2m) and equity (up to £5m).

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