Terms & Conditions
Loans up to £50,000 are available to existing businesses trading for more than 2 years, while
loans up to £30,000 can be arranged for new or existing businesses trading for a shorter period.
The interest rate is 5%, fixed for the period of loan. The maximum repayment period is
7 years, although 'capital holidays', usually 6 months may be considered. As a generality,
loans under £20,000 will require no legal security. However the right is reserved to take
security on loans below £20,000 where it is appropriate to protect the investment. Security
is usually taken in the form of a floating charge over the assets of the business or standard
security.
We will normally operate in conjunction with other commercial lending agencies and applicants
must demonstrate that at least 50% of the total funding package is being provided by
the private sector.