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DfE - Invest NI Small Business Loan Fund III

Invest Northern Ireland

This public procurement record has 2 releases in its history.

Award

17 Sep 2024 at 16:01

Award Notice
Tender

28 Jun 2024 at 09:11

Tender Notice
Summary of the contracting process

Invest Northern Ireland has awarded the contract for managing the "DfE - Invest NI Small Business Loan Fund III" to ULSTER COMMUNITY FINANCE LTD., based in Belfast, with a contract value of £2,700,000. The procurement process, commenced with an open procedure, covers financial and insurance services, specifically focusing on micro-credit granting and banking services. This contract is for a term of ten years, extendable by two optional periods of one year each, should an extended period be required to manage the loan book. Key procurement dates included the award date of 17th September 2024, with the tender process being completed and the contract status marked as active. The buying organisation, Invest Northern Ireland, is located at Bedford Square, Belfast.

This tender offers significant growth opportunities for firms specialising in financial management and investment services. Small to medium enterprises (SMEs) with expertise in fund management, banking, credit granting, and micro-financial services are well-suited to compete for such contracts. The selected fund manager will gain long-term engagement with a public sector authority, facilitating stable and potentially lucrative business operations through managing and delivering the Small Business Loan Fund. Firms positioned to maximise returns, develop robust marketing strategies, and ensure efficient governance will find this an attractive opportunity for expansion and enhancing their footprint in public sector financial services management.

How relevant is this notice?

Notice Information

Notice Title

DfE - Invest NI Small Business Loan Fund III

Notice Description

Invest NI is seeking to appoint a fund manager to manage and deliver NISBLF III on behalf of Invest NI for a ten-year period with an option to extend for two periods of 1 year, if required at the end of the fund, to exit from the loan book in an orderly fashion.

Lot Information

Lot 1

Invest NI is seeking to appoint a fund manager to manage and deliver NISBLF III on behalf of Invest NI for a ten-year period with an option to extend for two periods of 1 year, if required at the end of the fund, to exit from the loan book in an orderly fashion. Additional information: The figure indicated in Section II 1.5 represents an estimated contract value. This value reflects thepotential scale of the contract and takes into account potential optional extension periods and the uptake of potential optional servicesas detailed in the tender documents. This figure does not however take into account the application of indexation. Neither CPD nor theAuthority can provide any guarantee as to the level of business under this contract. The Contracting Authority does not bind itself toaccept the lowest or any tender. Economic Operators remain responsible for all costs and expenses incurred by them or by any thirdparty acting under instructions from the Economic Operator in connection with taking part in this procurement process regardlessof whether such costs arise as a consequence, directly or indirectly of any amendments made to the procurement documents by theContracting Authority at any time. No legally binding contract shall arise and an Economic Operator shall. have no legitimate expectationthat a contract will be entered into until such time as entry into the Contract has been confirmed by the. Contracting Authority. EconomicOperators should note that all dates, time periods and figures in relation to values and volumes specified. in this notice and theprocurement documents are approximate only and the Contracting Authority reserves the right to change any or all of them.

Options: option to extend for two periods of 1 year

Renewal: Option to extend for two periods of 1 year

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-047338
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/029742-2024
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

66100000 - Banking and investment services

66113000 - Credit granting services

66113100 - Micro-credit granting services

Notice Value(s)

Tender Value
£2,700,000 £1M-£10M
Lots Value
£2,700,000 £1M-£10M
Awards Value
Not specified
Contracts Value
£2,700,000 £1M-£10M

Notice Dates

Publication Date
17 Sep 20241 years ago
Submission Deadline
31 Jul 2024Expired
Future Notice Date
Not specified
Award Date
17 Sep 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Invest Northern Ireland
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BELFAST
Postcode
BT2 7ES
Postcode Area
Northern Ireland
Country
Northern Ireland
Major Region (ITL 1)
TLN Northern Ireland
Basic Region (ITL 2)
TLN0 Northern Ireland
Small Region (ITL 3)
TLN06 Belfast
Delivery Location
TLN Northern Ireland
Local Authority
Belfast
Electoral Ward
Central
Westminster Constituency
Belfast South and Mid Down

Supplier Information

Number of Suppliers
1
Supplier Name

ULSTER COMMUNITY FINANCE LTD.

Further Information

Open Contracting Data Standard (OCDS)

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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