The Opportunity Investment Fund is a £3.65m programme to enable investment in workspace and employment projects in Tottenham. The fund is jointly provided by Haringey Council and the GLA.
Through this programme Haringey are seeking projects that help existing SMEs grow and bring new operators into the local economy who can drive and curate entrepreneurship, business growth and diversify the local economy.
The fund is open to existing businesses and start-ups too.
Haringey are interested in businesses that want to grow, and new industry and activity that will create high quality employment with good opportunities for career progression.
Round 1 of the Opportunity Investment Fund closes on April 10th and offers loans up £100,000. If you have a proposal you would like to put forward, please contact me to discuss these in more detail.
Round 2 of the fund will be open later in the year if you have an idea or proposal that may not meet this first deadline.
Mill Co. Project
The Mill Co. Project requested a loan from the Opportunity Investment Fund to support capital investment in bringing an additional 15,000 ft² of new affordable workspace to the market, across several sites in the South Tottenham industrial area. The funding request asks for 30% of the loan to be retained (as a subordinated debt) in TMCP to develop community projects linked to the tenant SMEs. Supporting the project will unlock the following outputs:
15,000 ft² workspace created
2 vacant commercial units brought back into use
3 FTE jobs created for Haringey residents
A minimum of 12 business units/studios