Small loans for business provides loans to individuals to support good business ideas that could be difficult to fund through other means.
A maximum of 70%
The business must demonstrate either job creation or safeguarding.
Loans of £3,000 to £100,000 can be borrowed
Arrangement fee of 2% and security fees payable.
Repayments are made over a period of between one and five years. Interest will be charged at 12.5% for an unsecured loan, which is between £3,000 to £20,000 for the period of the loan. Interest for a secured loan of between £20,000 to £100,000 will be charged at 8% for the period of the loan.
Loans are discretionary and should not be seen as guaranteed. However, our Enterprise Development Officers can help you with the paperwork during the application process and any questions that you may have.
* Typical APR 11.50% – 14.50%. Detailed quote on request.
Enterprise Loans East Midlands Limited
Download the application from from the First Enterprise website.