Opportunity Investment Fund (OIF)
- Supporting local businesses to grow
- About The Opportunity Investment Fund
- OIF at a glance
- Express your interest
- The Opportunity Investment Fund in action
Supporting local businesses to grow
Loans are available at attractive rates to support businesses in Haringey.
Are you:
- looking to expand your business already operating in Haringey?
- willing to move your business here?
- passionate about employing local people and providing them with first-class training?
- looking for support with business planning and with your loan application?
Then the Opportunity Investment Fund (OIF) could be the loan fund for you.
The OIF and a strong package of support have already attracted new businesses to Tottenham and Wood Green and allowed existing businesses to grow. Building on these successes the OIF is now available borough-wide.
About the Opportunity Investment Fund
The OIF is open to small and medium-sized businesses (under 250 employees) in any sector, especially for creative, green (including retrofit activities) and affordable workspace operators seeking finance to grow with targets focused on increasing employment and commercial floor space.
To date OIF has:
- facilitated the creation of 157 jobs, around half of which were filled by local people
- committed a further 146 jobs to be created over the loan period
- benefitted 22 businesses. 50% were new start-ups and 50% were led by Haringey residents
- created workspace and production/creative studio space for around 161 small and medium-sized enterprises
- seen over £3.35m of private sector investment in Haringey’s commercial premises matching OIF funding
The Opportunity Investment Fund has already given a wide range of businesses the chance to take their products and services to the next level. Could you be next?
OIF at a glance
- Loans from £50,000 to £300,000 are available for small to medium-sized businesses (under 250 employees)
- Applications are welcome from all business sectors
- Funds available for capital building works and refurbishment and/or purchase of equipment, which leads to increased productivity, job growth and/or new workspace
- Attractive, flexible loan terms and interest rates
- Fixed monthly repayments
- Clear, straight forward and fully supported application process
- A full package of business support including specialist advice for expansion, help to find premises, relocation support, export guidance and help with recruitment and staff training
- Links with local schools and colleges, supply chain businesses and other opportunities to make a difference in the local community
Express your interest
If you think your business could be a good fit for OIF, contact us now to request an application form:
Email
OIF@haringey.gov.uk
Phone
020 8489 3314
The Opportunity Investment Fund in action
See below a list of businesses we have supported through OIF.
Roller Nation
Roller Nation (external link) is the only custom-built roller skating venue in the country opened in Tottenham in 2019.
Nearly 100 years ago the majestic space in Bruce Grove was a cinema but it has now been transformed into a 'mecca' for roller lovers everywhere.
Roller Nation have used OIF funding to fit out the space, which has created 21 local jobs. The roles were recruited with support from Haringey Council’s dedicated employment service, Haringey Works.
The application itself was very thorough and it does take time, but it was relatively straightforward. There’s an understanding you have to hit targets in terms of your business plan and financial programming but that’s important because we’re not talking about peanuts here. And the OIF has a responsibility to the council to ensure it’s all being done responsibly.
David French, Director ,Roller Nation
Ten87
Ten87 Studios (external link) provide creative workspace for music and sound. They are based in South Tottenham and run 42 studios across 3 sites.
The first OIF loan enabled them to expand onto their second site in Tottenham, refurbishing a vacant warehouse, creating more commercial floorspace and recording studios, co-working space and event space. They then received a second OIF loan, which was used to finance ten more studios on a third site in the High Cross Centre.
The loan is the best way I’ve found of borrowing money. We’ve experienced things moving quite slowly through a conventional lender, and maybe they don’t quite understand the inner workings of a business, but Haringey Council was very receptive and flexible.
Rob Burn, Producer/Director at Ten87 Studios
Redemption
Redemption Brewing Co. (external link) was set up in 2010 by Andy Moffat and Sam Rigby. They are an award-winning urban craft brewery based in Tottenham.
The OIF has enabled Redemption Brewery to refurbish and expand into a building in north Tottenham and take on new apprentices and staff in order to meet increased demand for their acclaimed craft beer.
Thanks to the funding we have grown the business and it’s doing really well. We are now producing between 25,000 – 40,000 pints a week, we’re going into more pubs and producing far more bottles of Redemption than we used to which are sold in places like the Co-op. We’re also expanding globally and exporting beers to Sweden, Italy and Denmark.
Andy Moffat, Owner, Redemption Brewing Co.
Chuku’s
Chuku’s (external link) is the world's first Nigerian tapas restaurant, fusing Nigerian cuisine and culture with the homely feel of tapas bars. Winners of Virgin Media Pioneers’ entrepreneurship award and described by The Royal Africa Society as “reflecting the direction African food is going”.
Founded by the British-Nigerian brother-sister duo, Emeka and Ifeyinwa Frederick, Chuku’s has gained internal fame as a pioneer in the restaurant industry. This unique Seven Sisters restaurant is based in a former money transfer shop. OIF funding has helped them transform the space.
It was also great to meet business that have already received OIF funding such as High Cross, True Craft, and Roller Nation. They were very supportive and still pop in to see how we are doing.
Emeka and Ifeyinwa Frederic, Owners, Chuku’s
Here are a few more businesses we have supported through OIF:
- The Albion Knitting Co (external link) - an industrial scale fully fashioned flat knitter, knitting for Chanel, Alexander McQueen, Givenchy, See by Chloe, Nicole Fahri amongst many others.
- Electric Grubb (external link) - Steven Pessoa's healthy food and drink café situated on the Tottenham High Road, just 5 minutes’ walk from Seven Sisters tube station.
- The High Cross (external link) - Chris Johnson and Alex Beeston have transformed a disused public toilet into a cosy café/bar on the Tottenham High Road.
- Pressure Drop (external link) - a small independent brewery, owned and operated by Ben, Graham and Sam.
- Stronghold Bouldering Centre (external link) - a state-of-the-art climbing centre on Fountayne Road.
- True Craft (external link) - an old, disused building in West Green Road has been transformed into a thriving pub and pizza place.