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Hellens Group also received loan funding of PS1.7M from the North East Investment Fund (NEIF), an evergreen loan fund also administered by the North East LEP.
Washington-based Hellens Group has been given the green light for the PS5m units on the Monkton Business Park, Hebburn, having received PS1.27m from the North East Local Enterprise Partnership's Local Growth Fund, as well as loan funding of PS1.7m from the North East Investment Fund (NEIF), an evergreen loan fund also administered by the LEP.
"What we inherited in the banking sector in 2014, what were the imperatives that made banks continue to evergreen loans, continue to push the problems under the carpet and avoid taking the harsh reality of a failed management into account.
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