Our business
lending terms are flexible and designed to respond to customer need.
Generally, the following terms apply:
-
Loans between £3,000
and £50,000 (although we can discuss lower amounts)
-
Loan terms between six
months and ten years
-
Start-up businesses will
usually be expected to find around 50% of funds elsewhere
-
Interest rate up to 15%
(for social enterprises we try to keep the interest rate between 10% and
12%)
-
An arrangement fee of 2%
(minimum £100) is payable at the start of the loan
-
A poor credit history or
no credit history at all will NOT automatically exclude a client from
borrowing
-
Lack of security is not a
barrier to lending although where assets are available and appropriate to
secure a loan, Foundation East will do so.
-
Capital repayment holidays
(up to three months) may be agreed, where applicable
Click here to view our business loans leaflet.
Click to view out social enterprise loans leaflet.
To progress your enquiry, please print, complete and return the following documents to our office:
1. Business Loan Application
2. Cashflow Forecast
3. Personal Details Form
4. Equal Opportunities Monitoring Form
Additionally we require a Business Plan, which must cover the areas mentioned
in the Business Plan Outline below, and a two year cash flow forecast.
If you do not have a business plan prepared and your loan request is for £5000 or
less you may download and complete the Business Plan below.
If your business is already trading please provide six months’ business bank statements and two years’ accounts.
If you require free impartial business help, advice and support please contact Business Link on 08457 17 16 15 or
www.businesslinkeast.co.uk
If you have any queries about the application process or the information required please contact us at the office on
01284 757777.
Click here to view our business plan outline
,
business plan
and the
Cashflow Forecast
Click here to view our terms and conditions
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