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Business Loans in Cornwall
Cornwall is home to a diverse range of businesses with the agriculture industry playing an important role in the region’s local economy. Leisure and Tourism also play a fundamental role, with the visitor economy accounting for one in five jobs.
A UK-leading digital infrastructure is now in place attracting new hi-tech businesses to the area and allowing current enterprises to tackle the challenge of distance. Investment in roads and our airport mean that Cornwall and the Isles of Scilly have never been more accessible – physically and virtually.
We have business loans available to support businesses in Cornwall with a variety of funding requirements.
Business Finance Available in Cornwall
Unsecured term Loans are available to businesses in Cornwall that have typically been trading for over two years. Loans range from £25,001 up to £250,000 and can be used for a range of purposes.
We have a team of local business managers to support businesses in Cornwall.
At SWIG Finance, we empower Start Ups and SMEs to overcome their financial barriers.
Our Business Manager, Rachel, joined SWIG in 2019, and supports businesses in Cornwall and the Isles of Scilly with access to funding.
Before joining SWIG, Rachel was Business Development Manager for FOLK2FOLK, and Commercial Relationship Manager for SME banking in West Cornwall at Lloyds Bank for more than 14 years.
Contact Rachel on;
rachelthomson@swigfinance.co.uk
07484 521 224
Your Nearest Office:
SWIG Finance Ltd
SWIG Finance provides viable SMEs and start-ups with access to finance. Visit Now
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.
We have Start Up Loans for businesses trading less than 3 years
Is my business eligible for a business loan in Cornwall?
SWIG Finance provides Unsecured Business Loans for Limited Companies in Cornwall. Business loans are available for businesses that have been typically trading for over two years, however, initial enquiries are welcomed to establish suitability.
What documents are required for a business loan in Cornwall?
- 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 12 months, identifying the funding requirement and showing the spending
- Agreement to Open Banking Report
- Business plan / executive summary overview
- Details of any agreed outputs e.g. number of jobs created or safeguarded
What can business loans be used for?
Business loans can be used for a range of purposes, including (but not limited to):
- Working Capital
- Growth Capital
- Operational Expenses
- Recruitment or Staff Costs
- Purchasing Equipment
- Marketing
- Business Acquisition
- ✓ 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.
How much can an SME borrow from SWIG Finance?
SME Loans from £25,001 up to £250,000 are available.
What are the interest rates and fees?
For a business loan of £25,001 to £250,000 repayable up to 5 years, the interest rate is 12% ABR.
There is a 5% arrangement fee at outset, which can be added to the loan. If any payments are missed or late there may be additional fees.
“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
How to apply for a Cornwall Business Loan?
To apply for a Cornwall Business Loan, you will need to complete our online application form.
Information we will need to assess your loan request:
- 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 12 months, identifying the loan requirement and showing spending
- Agreement to Open Banking
- Credit Report for all directors
- Business Plan
- Details of any agreed outputs e.g. number of jobs created or safeguarded
Apply now to take the next step in securing the funding your business needs.
Do you need to borrow less than £25k?
We have Start Up Loans available for businesses that have been trading for less than 3 years.
Apply for a business loan now
Please complete the below enquiry form and a member of the team will be in touch.
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