Business Loans- Foundation East

Foundation East does not use a credit scoring system as business is about people as well as numbers.

People may be turned down for bank lending for a wide variety of reasons. A common problem is a poor credit score. Foundation East does not use a credit scoring system for its small business loans.  Instead, the applicant must be able to provide a strong business case for the loan, supported by the necessary documentation and financial detail.

To apply for a business loan you must complete an application form.

Once we have received your application the Business Loans Manager for your area will be in contact with you to help you through the application process. It might be that your business plan needs a bit more work; support is available from Business Link and other agencies.

When the Business Loans Manager is satisfied that your business plan is viable then the application will be referred to the Foundation East Loans Panel.

The Loans Panel is made up of members of Foundation East; these include business people and professions with experience of finance, marketing or business development. They base their decision making on an understanding of what it takes for a business to succeed.

The final decision and the terms on which the loan is agreed, is made by the Loans Panel.

Details of how to apply are available here.

If you would like help with your business plan please contact Business Link on 08467 171615. If you have any queries about the application process or the information required please contact your local Business Loans Manager or the office on 0845 293 7751 or 01284 757777.