Could a business loan help your business to grow?
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Loan characteristics
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- Businesses 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
- Recovery Loan Scheme (RLS) Accredited Lender
- Terms and conditions apply
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Amount & Term
£25,001 – £250,000 repayable up to 60 months
Interest Charge
Charged at 12% ABR
Information for Assessment
- 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 18 months, identifying the requirement
- Last 6 months business bank statements
- Credit Report for all directors
- Business plan / executive summary overview
- Details of number of jobs safeguarded and anticipated jobs that may be created
Security
Fixed & floating debenture taken (ranking behind existing charge holders, if appropriate)
Personal guarantees are required for non-RLS Lending
Fees
Arrangement fee of 5% charged at outset
The CBILS Scheme closed with effect from 31 March 2021. Learn more here.
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Lending Information
Practical Tips & How-To Guides
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