Do you need funding to grow your Small or Medium Size Enterprise? We have business loans available for SMEs in the South West.
Business Loan characteristics
- ✓ Business loans for businesses typically trading over 2 years
- ✓ Limited companies only can apply
- ✓ Finance for working capital or growth (e.g. equipment)
- ✓ Loan value from £25,001 – £250,000
- ✓ We are an accredited Recovery Loan Scheme lender
- ✓ We also manage SWIF – Smaller Loans
- Terms & Conditions Apply
– Fixed & floating debenture taken (ranking behind existing charge holders, if appropriate)
– Unsupported personal guarantees are typically required for business loans
Information required to apply for a business loan:
– Last 2 sets of full annual accounts, including detailed Profit & Loss Accounts
– Management accounts for the period since most recent year end to date
– Cashflow forecast for a minimum of 12 months, identifying the loan requirement and showing spending
– Agreement to Open Banking report
– Credit Report for all directors
– Business plan / executive summary overview
– Details of any agreed outputs e.g. number of jobs safeguarded or created
Amount & Term
£25,001 – £250,000 repayable up to 60 months
Charged at 12% ABR
Fee of 5% charged at outset
Could a business loan help your business to grow?
Fill out the form and one of our team will be in touch.
Our Application Process
We assess each business on its own merit. To apply, please complete our online enquiry form below. Initial enquiries welcomed to establish suitability. Once we have received all the information we need to consider your application, the decision will be made as soon as possible.
Download our easy-to-use Eligibility and Documentation Checklist.
Tips & How-To Guides
Here you will find practical tips and how-to guides.
Got a question?
Give us a call today and we will answer any question you may have.
What you can expect from us
- ✓ A personal 1-2-1 service from your dedicated business manager.
- ✓ Relationship-based contact from your dedicated business manager.
- ✓ A genuine interest in your business.
- ✓ A desire to see your business succeed.
- ✓ Support and guidance for the duration of your loan.
“We chose to work with SWIG Finance because, unlike other lenders, at SWIG you can talk to a person. Ultimately, SWIG Finance were able to support our business by looking at the bigger picture – something which other lenders are not willing to do.”
Customer Testimonial, SME Business Owner
Frequently Asked Questions
You can see below the answers to our most frequently asked questions. If you have more questions, do not hesitate to contact us and we will be happy to help.
What is a business loan?
How much can I borrow and what will it cost me?
What are the advantages of a business loan?
Typically, business loan funding can be used to support working capital, as well as investment into resources and assets that will generate growth.
What will we need from you?
- Last 2 sets of full annual accounts, including detailed Profit & Loss Accounts
- Management accounts for the period since the most recent year-end to date
- Cashflow forecast for a minimum of 18 months, identifying the requirement for the business loan
- Agreement to Open Banking
- Credit Report for all directors
- Business Plan
- Details of any agreed outputs e.g. number of jobs created or safeguarded.
Can a Public Limited company apply for a business loan?
Are there any other fees?
Is a Debenture required?
How do I apply for a business loan?
Once you’ve submitted your application a member of the team will be in touch to take you through the next steps.
What are the risks of a business loan?
Will there be a credit check?
Please note, however, even if you do not have a perfect credit score, we may still be able to help you.
Am I eligible for a business loan with SWIG Finance?
- You must be 18 or over.
- Limited companies only can apply.
- You must be a business with a clear plan for the purpose of the loan.
- The business must be able to demonstrate viability and growth potential.
- The business must be based in the South West of England.
- Applicant businesses will typically have been trading for more than 2 years.
What can business loans be used for?
Do we provide the Recovery Loan Scheme support?
Visit our RLS webpage for more information.
Does the business loan require a personal guarantee?
What can I do if my business has been trading for less than two years?
Business Loan Uses:
If you need more information, have a look through our Business Loan Uses, to see what you can use our business loans for.
Funding Boost for The Boys Who Sew
Feb 15, 2023 | Case Study, SME
Gloucestershire-based curtain makers, The Boys Who Sew, is the latest business to be supported by SWIG Finance. The £36k loan, which was backed by the British Business Bank’s Recovery Loan Scheme (RLS), will be used to fit-out the new premises and invest in green technology, such as the installation of solar panels and an electric vehicle, in support of their Net Zero journey.
Our decisions are made by people, not computers, which means that we lend by looking at the bigger picture.
Our business managers provide support and guidance throughout the application process, and for the duration of the loan, to give our customers the best chance for success.