Financing a business Financing a business

Business Grant Search

As well as being a source of information for grants, the grant finder is also able to search for loans that are currently available and filter these to the appropriate finance options for your business. Simply register for the site, free of charge, and even set up alerts for specific funding types to easily be advised of grants when they are released.  REGISTER HERE


Available loans:

  • ASC Finance for Business are finance brokers that arrange business finance for small businesses and entrepreneurs in the UK.
  • ACS can support businesses with commercial loans, and a number of other financial support services.

Who can apply: ASC covers business owners and entrepreneurs throughout the UK

http://www.asc.co.uk/

  • A programme to provide small loans (£3,000-£50,000) to UK based SME’s to access growth opportunities.
  • The loans are to be re-paid within an agreed timescale. Repayment is customised to the business cash flow model.

Who can apply: Any business can apply as long as they have been in operation for over 9 months and can demonstrate growth potential. Restrictions can be found on their website.

http://www.boostcapital.co.uk/business-funding-sme-uk/

Braintree District Council is committed to business growth in their district. To support this they have established a £500,000.00 Business Growth Loan Fund to offer capital investment loans to innovative and growing businesses located in or moving to the district. Capital only loans are offered at an interest rate set by the Council, based on commercial lending. By charging interest, we can comply with legislation and will be able to offer loans to other projects in the future. Loans are...

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Braintree District Council is committed to business growth in their district. To support this they have established a £500,000.00 Business Growth Loan Fund to offer capital investment loans to innovative and growing businesses located in or moving to the district.

Capital only loans are offered at an interest rate set by the Council, based on commercial lending. By charging interest, we can comply with legislation and will be able to offer loans to other projects in the future.

Loans are available for a maximum of 50% of the total investment required and the other 50% must be invested by the private sector.

This is not a grant scheme. Loans must be repaid with interest within 5 years.

Application are welcome from companies in or moving into the Braintree District. For more information and an application form click here.

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  • This loan fund is designed to support the ambition of female entrepreneurs in the UK. This fund has a total budget of £10 million available. Business owners who have been established for at least nine months can qualify for £5,000 up to £500,000.

Who can apply: UK based, Female owned businesses can apply in a range of sectors.

https://www.boostcapital.co.uk/small-business/loans-for-women.html

Charity Bank provides affordable loan finance and advice to registered charities, as well as to community associations, voluntary organisations, community businesses, social enterprises or a social landlord, as long as the purpose of the loan is charitable and to help them to grow. loans ranging from £50,000 to £2.5 million are available or up to £3.5 million for housing associations. The interest rate and charges on borrowing depend on the size, type and length of a loan required. Charity...

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  • Charity Bank provides affordable loan finance and advice to registered charities, as well as to community associations, voluntary organisations, community businesses, social enterprises or a social landlord, as long as the purpose of the loan is charitable and to help them to grow.
  • loans ranging from £50,000 to £2.5 million are available or up to £3.5 million for housing associations.
  • The interest rate and charges on borrowing depend on the size, type and length of a loan required.
  • Charity Bank offers loans for the following purposes: Short-term bridging loans pending receipt of grant funding; Working capital; Development loans which can convert into a long term repayment loan; Property purchase or refurbishment; ‘Final brick’ loans, to start the project when most of the funds have been raised; Capital investments.

Who can apply: The Charity Bank will lend to any organisation that is a registered charity, as well as to community associations, voluntary organisations, community businesses, social enterprises or a social landlord, as long as the purpose of the loan is charitable.

http://www.charitybank.org/

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Financial aid is available for the support of the development of cooperatives or employee-owned businesses and social enterprises in the UK for general business needs, including loans on property, business purchase, capital equipment and working capital. ICOF’s primary purpose is to enable people to own and democratically control the businesses in which they work, or which operate in their local community.  This is achieved by the provision of finance and financial services, throughout...

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Financial aid is available for the support of the development of cooperatives or employee-owned businesses and social enterprises in the UK for general business needs, including loans on property, business purchase, capital equipment and working capital.

ICOF’s primary purpose is to enable people to own and democratically control the businesses in which they work, or which operate in their local community.  This is achieved by the provision of finance and financial services, throughout the UK, to those enterprises which practise or support the principles of cooperation; common ownership; employee, community or social ownership; equal opportunity and workplace democracy; and sustainable development.

Advice is offered to borrowers throughout the term of the loan, as part of the funding package.

Loans from £10,000 to £75,000 are normally available, however, from other funds under the sponsor’s management they are able to lend up to £150,000.  Loans to new businesses are usually part of a larger financial package and not normally more than 50% of that package.

Who can apply:

Co-operative and Community Finance will only invest in the social enterprises, co-operative and employee-owned businesses which are economically viable.  Each enterprise must be able to demonstrate the ability to pay interest and repay the capital on any agreed loan finance

Application Deadline: Applications can be made at any time.

http://www.coopfinance.coop/borrow/

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An Arts Council England initiative offering business development support and access to loans from £2,500 to creative industry enterprises across England. Applicants must have been in business for at least 18 months. A commission of 1% of all approved loans is re-invested in to Creative United to develop further programmes to support creative and cultural industries. In addition to offering business support and advice, loans start form £2,500. Who can apply: Applications will be available...

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  • An Arts Council England initiative offering business development support and access to loans from £2,500 to creative industry enterprises across England. Applicants must have been in business for at least 18 months.
  • A commission of 1% of all approved loans is re-invested in to Creative United to develop further programmes to support creative and cultural industries.
  • In addition to offering business support and advice, loans start form £2,500.

Who can apply: Applications will be available online to creative and cultural organisations that have been trading for at least 18 months and are looking to support their growth and development with a loan.

https://www.creativeindustryfinance.org.uk/what-we-do/access-to-finance/

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Crowdfunding is a way to raise money, awareness and support for a project, from the people around you. It’s means of funding that allows individuals to make their ideas a reality with the power of the crowd. Crowdfunding enables people with great ideas to raise the money they need, in return for ‘rewards’. The public can back your idea with pledges of money and project owners can ‘thank’ their backers with rewards that reflect the money contributed. The process: 1. Create...

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Crowdfunding is a way to raise money, awareness and support for a project, from the people around you. It’s means of funding that allows individuals to make their ideas a reality with the power of the crowd.

Crowdfunding enables people with great ideas to raise the money they need, in return for ‘rewards’. The public can back your idea with pledges of money and project owners can ‘thank’ their backers with rewards that reflect the money contributed. The process:

1. Create – First you create a simple page on our site, explaining your idea.

2. Share – Next, you tell all the people you know – and some of them share it with their friends in turn… and so on.

3. Pledging – All the while, people who believe in your idea pledge money in return for a reward that they’ll receive if your project succeeds.

http://www.crowdfunder.co.uk/

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The East of England Regional Growth Loan Scheme is a mezzanine loan scheme, filling the gap between traditional debt and equity funding.  It can be a stand-alone funding source but is complementary to other sources of finance e.g. traditional bank borrowing, including the Enterprise Finance Guarantee scheme and equity. The scheme is effective in unlocking other forms of finance and in many of the deals agreed it has formed part of a larger finance package. Who is it for ? To support established...

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The East of England Regional Growth Loan Scheme is a mezzanine loan scheme, filling the gap between traditional debt and equity funding.  It can be a stand-alone funding source but is complementary to other sources of finance e.g. traditional bank borrowing, including the Enterprise Finance Guarantee scheme and equity. The scheme is effective in unlocking other forms of finance and in many of the deals agreed it has formed part of a larger finance package.

Who is it for ?

To support established companies with the potential for significant growth who are based within the counties of Essex, Suffolk, Norfolk, Cambridgeshire, Bedfordshire and Hertfordshire.

What do we mean by growth potential ?

Loans will be made available to those companies able to meet the following criteria:

  • A clear business strategy
  • Capable of significant growth
  • Provide a business plan demonstrating
  • a viable product or service
  • a ready market
  • a management team with relevant background
  • Intellectual Property rights
  • evidence of a strong commitment to the enterprise from the proprietors
  • Able to demonstrate competitive advantage, probably in niche markets

What are the key terms ?

  • Businesses may borrow between £50,000 and £200,000 by way of loan facility
  • Interest is agreed on a case by case basis reflecting the level of risk (between 5 – 9% above base rate)
  • Repayment is over 2 to 5 years (a capital repayment holiday can be considered)
  • Security is subject to risk assessment and in most cases will be subordinate to the security of any other lenders
  • Fees:
  • arrangement fee 2%
  • annual monitoring fee 1%
  • legal costs £500 fixed fee
  • In place of an equity stake a Risk Levy of average 4% per annum of the original capital loan will be levied. This fee is flexible and will be fixed, capped or tapered subject to growth expectations and risk, allowing the owners to retain their current capital stake.

How do I apply ?

Applications should be made direct to Finance East. Please see our website at www.financeeast.com for more details.

What is the application process ?

Finance East will discuss your requirements and make an initial assessment at the point of contact. Should you meet the criteria you will be invited to submit a full application form and business plan. Subject to assessment, if you are successful in securing a loan the funds should be available to you within 4 to 6 weeks of the date the original application was received.

Exclusions

The loan facility is not available to businesses seeking to refinance existing financial arrangements or to address long outstanding creditor positions, including HMRC.

The following sectors are excluded:

  • Land and property development, dealing and investment
  • Provision of debt and equity finance and financial services in general
  • Accountants and legal services
  • Hotels
  • Nursing and residential care homes
  • International motor transport
  • Agriculture
  • Forestry and timber production
  • Horticulture

Further information

For further information please visit our website http://www.thefsegroup.com/fund/east-of-england-regional-growth-loan-scheme/ or contact:

  • Stuart Ager, Senior Fund Manager: stuart.ager@thefsegroup.com
  • Francis Kenealy, Fund Manager: francis.kenealy@thefsegroup.com

Finance East is part of The FSE Group and is an independent fund manager based in Ipswich, providing growth finance to innovative, ambitious businesses and entrepreneurs across the East of England region.

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The Enterprise Finance Guarantee is a guarantee facility, available through high street banks, for small UK businesses, intended primarily to improve the availability of working capital through term loans and the consolidation of overdrafts. It will also support lending for business growth and development in cases where a sound proposition may otherwise be declined due to a lack of security. Under the EFG, the Government will guarantee lending to viable businesses to ensure that they can get...

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  • The Enterprise Finance Guarantee is a guarantee facility, available through high street banks, for small UK businesses, intended primarily to improve the availability of working capital through term loans and the consolidation of overdrafts. It will also support lending for business growth and development in cases where a sound proposition may otherwise be declined due to a lack of security.
  • Under the EFG, the Government will guarantee lending to viable businesses to ensure that they can get the working capital and investment that they need.
  • The Guarantee aims to help smaller, credit-worthy companies that might otherwise fail to access the finance they need for working capital or investment finance due to the current tight lending conditions.

Who can apply: Government guaranteed lending through the new Enterprise Finance Guarantee is open to small businesses in the UK with an annual turnover of up to £41 million that are currently not easily able to access the finance they need.

http://british-business-bank.co.uk/research/6895-2/

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Launched in June 2015, The Enterprise Ventures’ SME Loan Fund provides loans to established and growing SMEs in all sectors and across all areas of the UK. The loan can often bridge a funding gap where banks and other lenders are able to meet the full requirements. Loans typically cover a five year maximum period and are tailored the individuals specific business needs and requirements. Individual loans of between £15,000 and £1 million are available. Who can apply: Applications are...

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  • Launched in June 2015, The Enterprise Ventures’ SME Loan Fund provides loans to established and growing SMEs in all sectors and across all areas of the UK. The loan can often bridge a funding gap where banks and other lenders are able to meet the full requirements.
  • Loans typically cover a five year maximum period and are tailored the individuals specific business needs and requirements.
  • Individual loans of between £15,000 and £1 million are available.

Who can apply: Applications are open for SMEs operating in all ranges of sectors. The business must have been trading for three years or more and have current or anticipated operating profit of £100,000 and a minimum turnover of £1 million a year.

https://www.evgroup.uk.com/types-of-funding/business-loans/

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Loan assistance to new and existing small businesses and social enterprises throughout Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk and Suffolk that are unable to access high street finance to achieve full potential. Foundation East aims to help smaller businesses get off the ground through this fund. Foundation East will consider any good quality business ideas for support. The aim is to help businesses become established, to expand and thrive, and to provide services and...

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  • Loan assistance to new and existing small businesses and social enterprises throughout Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk and Suffolk that are unable to access high street finance to achieve full potential. Foundation East aims to help smaller businesses get off the ground through this fund. Foundation East will consider any good quality business ideas for support. The aim is to help businesses become established, to expand and thrive, and to provide services and employment.
  • Maximum loan of £100,000- Minimum £5,000
  • There is a reduced interest rate for the first £9,500. If a loan for more than £50,000 is offered, the arrangement fee is capped at £2,500.
  • Business Start up loans will require match funding. Start-up businesses will be expected to contribute around 50% of funds.
  • Costs associated with eligible business and social enterprise development can be funded, for example: start-up costs; plant, machinery and equipment; upgrading premises; bridging finance; organisational development; cash flow management and marketing.
  • Personal loans are available for: nursery fees; rental deposits; debt consolidation; interview clothes; appliances; or money to support the applicant before a first pay cheque.
  • Applications may be made at any time through Foundation East

Who can apply: Assistance is available to businesses, social enterprises, voluntary organisations and individuals in Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk and Suffolk.

www.foundationeast.org

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  • Funding Circle presents an alternative source to banks, with benefits to lenders and borrowers. Unsecured loans of between £5,000 and £1 million over one or three year terms.
  • The loans are based on a fixed rate with a monthly repayment plan. To date, lenders have typically been receiving interest rates of between 6% and 9%.

Who can apply: Applicants must be UK based, have a UK bank or building society account and a minimum annual turnover of £100,000.

http://www.fundingcircle.com/

HSBC £10 Billion SME Fund (£150 million fund available to Kent and Thames Gateway) The HSBC £10 Billion SME Fund has been established to provide ambitious businesses with the resources required drive their growth and realise ambitions. The scheme is the bank’s largest ever package of support for SMEs and includes a national fund and a special promotion on business loans available to any company. Who can apply: The fund is available to businesses, from start-ups and sole traders...

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  • HSBC £10 Billion SME Fund (£150 million fund available to Kent and Thames Gateway)
  • The HSBC £10 Billion SME Fund has been established to provide ambitious businesses with the resources required drive their growth and realise ambitions. The scheme is the bank’s largest ever package of support for SMEs and includes a national fund and a special promotion on business loans available to any company.

Who can apply: The fund is available to businesses, from start-ups and sole traders upwards, with an annual turnover of up to £350 million. Existing businesses that are looking to grow, as well as those looking to start a new business will be supported.

http://www.business.hsbc.uk/en-gb/gb/campaign/8-billion-fund-for-smes

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Kickstarter is a funding platform for creative projects. Everything from films, games, and music to art, design, and technology. Thousands of projects are funding on Kickstarter at any given moment. Each project is independently created and crafted by the person behind it. The filmmakers, musicians, artists, and designers you see on Kickstarter have complete control and responsibility over their projects. They spend weeks building their project pages, shooting their videos, and brainstorming...

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Kickstarter is a funding platform for creative projects. Everything from films, games, and music to art, design, and technology.

Thousands of projects are funding on Kickstarter at any given moment. Each project is independently created and crafted by the person behind it. The filmmakers, musicians, artists, and designers you see on Kickstarter have complete control and responsibility over their projects. They spend weeks building their project pages, shooting their videos, and brainstorming what rewards to offer backers. When they feel ready, a creator can launch their project on the site and share it with their community.

Creative projects from the worlds of Art, Comics, Crafts, Dance, Design, Fashion, Film & Video, Food, Games, Journalism, Music, Photography, Publishing, Technology, and Theatre. The Kickstarter platform was built to serve creative projects, the artists, designers, and creative people who make them.

Every project creator sets their project’s funding goal and deadline. If people like the project, they can pledge money to make it happen. If the project succeeds in reaching its funding goal, all backers’ credit cards are charged when time expires. If the project falls short, no one is charged. Funding on Kickstarter is all-or-nothing.

What are the basics?

A project is a finite work with a clear goal that you’d like to bring to life. Think albums, books, or films.

The funding goal is the amount of money that a creator needs to complete their project.

Funding on Kickstarter is all-or-nothing. No one will be charged for a pledge towards a project unless it reaches its funding goal. This way, creators always have the budget they scoped out before moving forward.

A creator is the person or team behind the project idea, working to bring it to life.

Backers are folks who pledge money to join creators in bringing projects to life.

Rewards are a creator’s chance to share a piece of their project with their backer community. Typically, these are one-of-a-kind experiences, limited editions, or copies of the creative work being produced.

You can get your project started here

This is a US website hosting creative projects from many locations across the globe  including the UK.

https://www.kickstarter.com/

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  • Loans for UK based businesses which do not have to be paid back until the applicant is earning. Loans are available the same day that an application is filed and approved.
  • Loans between £2,500 and £300,000 are available. Costs are associated with re-payment of the loan

Who can apply: Small UK businesses are able to apply for a loan.

https://www.liberis.co.uk/

Financial assistance and advice for to help unemployed people start a business in Great Britain. The loan scheme is up to £2,300 per person. Assistance through the NEA includes: Business mentoring guidance at the development stage and during early trading. A weekly allowance paid over six months. A start-up capital loan of £1,000. Loans can be used for capital start-up costs such as equipment, machinery and consumables. Who can apply: The New Enterprise Allowance is available to...

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  • Financial assistance and advice for to help unemployed people start a business in Great Britain. The loan scheme is up to £2,300 per person.
  • Assistance through the NEA includes:

Business mentoring guidance at the development stage and during early trading.

A weekly allowance paid over six months.

A start-up capital loan of £1,000.

  • Loans can be used for capital start-up costs such as equipment, machinery and consumables.

Who can apply: The New Enterprise Allowance is available to individuals aged 18 and over who:

  • are based in England, Scotland or Wales;
  • have been on Job Seeker’s Allowance (JSA) for six months; or
  • receiving income Support as a lone parent; or
  • Employment and Support Allowance, if operating in the work-related activity group.

https://www.gov.uk/new-enterprise-allowance

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The Loan Fund is designed to complement the business support services provided by Norfolk and Waveney Enterprise Services, and exists to bring about positive social and economic change in the East of England region. Its main objective is to assist new and developing businesses that cannot access mainstream finance. The fund aims to support people who wish to start their own business, and help business grow and survive. Maximum loan value of £10,000 *Fixed Interest Rate 6% (Typical APR...

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The Loan Fund is designed to complement the business support services provided by Norfolk and Waveney Enterprise Services, and exists to bring about positive social and economic change in the East of England region. Its main objective is to assist new and developing businesses that cannot access mainstream finance. The fund aims to support people who wish to start their own business, and help business grow and survive.

  • Maximum loan value of £10,000 *Fixed Interest Rate 6% (Typical APR 6.2%)
  • Minimum Value£ 1,000
  • provide loans to small businesses that will create jobs;
  • provide loans to social enterprises with a social and commercial purpose.

Who can apply: To Apply businesses must;

  • Be a new or existing business, either located within, or relocating to, the East of England.
  • Be a client of a Business Support Agency such as NWES, Business Link or other Enterprise Agencies from around the region

http://www.nwes.org.uk/advice-and-training/how-to-access-finance/start-up-loans-1

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Created within the Department for Business, Innovation and Skills (BIS), this programme provides a personal loan style funding initiative for entrepeneurs in the UK wishing to start up a new business. The programme aims to equip enterprising individuals with the tools needed to make their businesses a success. Loan values vary depending on the type of support and advice required. The average loan value is £6,000 although loans of up to £25,000 are available. Loans must be repaid within five...

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  • Created within the Department for Business, Innovation and Skills (BIS), this programme provides a personal loan style funding initiative for entrepeneurs in the UK wishing to start up a new business. The programme aims to equip enterprising individuals with the tools needed to make their businesses a success.
  • Loan values vary depending on the type of support and advice required. The average loan value is £6,000 although loans of up to £25,000 are available.
  • Loans must be repaid within five years at a fixed-rate of interest – currently 6%. Capital repayment holidays are available, but interest must be covered monthly throughout.

Who can apply: Anybody living in the United Kingdom who is at least 18 years of age at the time of application can apply for a Start-up Loan. The applicant may have already started their business, but must not have been trading for longer than a period of 12 months.

https://www.gov.uk/start-up-loans

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The Trust offers development programmes, training, business start-up assistance, advice, counselling and workshops to young people aged 14 to 30 in the UK. Loans of up to £5,000 are also available. Who can apply: The Prince’s Trust programmes are available to individuals in the UK, aged 14-30.  The Trust has four target groups within this age range.  Programmes are available to people that fall within the following groups: Young people under-achieving in education. Young people...

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  • The Trust offers development programmes, training, business start-up assistance, advice, counselling and workshops to young people aged 14 to 30 in the UK. Loans of up to £5,000 are also available.

Who can apply: The Prince’s Trust programmes are available to individuals in the UK, aged 14-30.  The Trust has four target groups within this age range.  Programmes are available to people that fall within the following groups:

  • Young people under-achieving in education.
  • Young people leaving care.
  • Young offenders and ex-offenders.
  • Unemployed young people.

http://www.princes-trust.org.uk

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This loan programme is designed to support small businesses in the East of England, targeting both new and existing Royal bank of Scotland or NatWest customers looking to grow or diversify their business. The total value of the grant is £5,500,000. The total loan value to be awarded is £250,000 and minimum loan value £1,000 A total of £55million will be allocated to businesses in the East of England. The fund offers new borrowing with fixed rate loans from £1,000 to £250,000 with no...

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  • This loan programme is designed to support small businesses in the East of England, targeting both new and existing Royal bank of Scotland or NatWest customers looking to grow or diversify their business.
  • The total value of the grant is £5,500,000. The total loan value to be awarded is £250,000 and minimum loan value £1,000
  • A total of £55million will be allocated to businesses in the East of England. The fund offers new borrowing with fixed rate loans from £1,000 to £250,000 with no arrangement fee.
  • There are no match funding requirements

Who can apply: The fund will target both new and existing business customers of the Royal Bank of Scotland or NatWest in the East of England.

http://www.business.rbs.co.uk/

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This fund provides loans at low interest rates to individuals at a pre start-up stage, who are in need of financial assistance in order to establish or expand a small business. Trustees can make loans of up to £10,000. Who can apply: Businesses can be based in any of the London boroughs or in the home counties of: Bedfordshire; Berkshire; Buckinghamshire; East Sussex; Essex; Hampshire; Hertfordshire; Kent; Surrey; West Sussex. The fund may consider small businesses that are in need of...

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  • This fund provides loans at low interest rates to individuals at a pre start-up stage, who are in need of financial assistance in order to establish or expand a small business.
  • Trustees can make loans of up to £10,000.

Who can apply: Businesses can be based in any of the London boroughs or in the home counties of: Bedfordshire; Berkshire; Buckinghamshire; East Sussex; Essex; Hampshire; Hertfordshire; Kent; Surrey; West Sussex.

The fund may consider small businesses that are in need of support, in addition to start ups.

http://www.arneways.co.uk/

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Aimed at providing financial support, mentoring and advice for young entrepreneurs in England and Northern Ireland. The scheme is nationwide government-backed and offers loans between £350 and £25,000. The Virgin StartUp is a personal loan. Who can apply; Entrepreneurs in England and Northern Ireland who are aged between 18 years and 30 who are interested in starting a business may apply. New or expanding businesses that are less than a year old are also...

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  • Aimed at providing financial support, mentoring and advice for young entrepreneurs in England and Northern Ireland. The scheme is nationwide government-backed and offers loans between £350 and £25,000.
  • The Virgin StartUp is a personal loan.

Who can apply; Entrepreneurs in England and Northern Ireland who are aged between 18 years and 30 who are interested in starting a business may apply.

New or expanding businesses that are less than a year old are also eligible.

http://www.virginstartup.org

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