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Loan characteristics

      • 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

 

Amount & Term

£25,001 – £100,000 repayable up to 60 months
£100,001 – £250,000 repayable up to 72 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.

Representative example for a business loan of £50,000

Total amount of credit of £50,000 repayable over 48 monthly repayments; Interest Rate 12% per annum variable over the Bank of England base rate, currently 0.1%; Arrangement Fee £2,500 (5%)

47 monthly repayments of £1,319.15; Final Repayment of £1,319.06; Total charge for credit £15,819.11; Total amount payable £65,819.11; APR Representative 15.6%

Practical Tips & How-To Guides

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Latest Case Studies

Real Olive Company Gets Real Boost

Real Olive Company Gets Real Boost

The Real Olive Company, has received a £150k loan through SWIG Finance backed by the Coronavirus Business Interruption Loans Scheme (CBILS).