Whether you’re looking to expand or develop an existing business, our loans are designed to help you achieve your entrepreneurial goal.
Business loans can provide an alternative source of finance established businesses across the areas we cover who are unable, for one reason or another, to secure all or part of their funding requirements from banks or other mainstream lenders.
Ranging from £10,000 to £150,000* our business loans can be used for a variety of purposes including additional working capital, equipment, assets including business premises, gap funding for growth & development and as part of a syndicated package with other lenders or grant funders.
Loan features:
- For early stage and established businesses (which have been trading for at least two years or more).
- Sole Traders, Partnerships or Limited Companies may apply.
- Can be used for any legitimate and legal business purpose including:
- Working capital
- Purchase of equipment or machinery
- Business expansion
- Premises
- Business assets may be considered as security, if applicable.
- Any current Government Loan Guarantee Scheme (where we are accredited) may be considered, solely at the lenders discretion.
- Personal guarantees from the director(s) are usually required for Limited Company borrowing.
- Minimum loan value £10,000*
- Maximum loan value £150,000 (subject to fund criteria)
- Fixed interest rate parameters 11.75% over Bank of England base rate, per annum.
- Loan arrangement fee of 3.5%
- No fees for early settlement of the loan
- Term of loans:
- Minimum term 3 months
- Maximum term of up to 7 years
Application process:
- An initial enquiry with one of the team is required to help verify viability, eligibility and determine if an application pack is to be issued, to invite you to apply.
- Applications should be supported by a business plan (an extended Executive Summary may be considered acceptable for established businesses) and financial forecasts must be included.
- Annual accounts for established businesses will be required along with Management Accounts for the current financial year.
*Please note that we only provide unregulated lending solutions of £10,000+ for Limited Companies and £25,001+ for Sole Traders and Partnerships.