Coronavirus Business Interruption Loan Scheme (CBILS)  

FIND OUT MORE

l

APPLY
FOR A LOAN

We care about your business and will work with you to understand your requirements and potential.
Our decisions are made by people not computers.

Click on the button appropriate to you and your business.

Trading less than 2 yearsTrading more than 2 years
l

APPLY
FOR A LOAN

We care about your business and will work with you to understand your requirements and potential.
Our decisions are made by people not computers.

Click on the button appropriate to you and your business.

Trading less than 2 yearsTrading more than 2 years

Business Loans for the South West

(including the Coronavirus Business Interruption Loan Scheme (CBILS))

 

SWIG Finance lends to growing SMEs and start-up entrepreneurs across the South West region. This includes Bristol, Cornwall and the Isles of Scilly, Devon, Dorset, Gloucestershire, Somerset and Wiltshire.


Click the relevant button above, fill in our form and we’ll be in touch soon after with the next steps.

Got a question? Call us now

Loan characteristics – Trading over 2 Years

  • Sole traders, partnerships and limited companies can apply
  • Finance for any legitimate and legal purpose
  • Business assets considered as security if available
  • Coronavirus Business Interruption Loan Scheme will usually be considered
  • Personal guarantees from shareholding directors are usually required
  • Loan value from £10,000 – £100,000
  • Terms and conditions apply

Loan characteristics – Trading up to 2 Years (Start Up Loan)

  • Personal loans for business use
  • Start-ups and businesses trading up to 2 years
  • Can be used to buy an existing business
  • Free application and post-loan mentoring support
  • £500 – £25,000 per applicant
  • Average loan size £11,600

Application Process

  • Complete an online enquiry and application via the above buttons
  • Business plans must be supplied (an extended Executive Summary may be considered for established businesses) and financial forecasts
  • Annual accounts and most recent management accounts required for established businesses
  • Initial enquiries welcomed to establish suitability

Once we have received all the information we need to consider your application, we will aim to give you a lending decision within 5 working days.

 

 

 

 

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 £2,000 (4%).

48 monthly repayments of £1,319.15; Total charge for credit £15,319,11; Total amount payable £65,319.11; APR Representative 14.9%.

(For the Cornonavirus Business Interruption Loan Scheme, your arrangement fee and the first 12 months interest will be paid by the Government. However, you, the borrower, remain responsible for repayment of 100% of the outstanding facility at all times and not just the amount of the facility outside the coverage of the Government guarantee.
For more information please visit our dedicated
CBILS page)

Representative example for a Start Up Loan of £10,000

Total amount of credit of £10,000 repayable over 5 years; Interest Rate 6% per annum fixed; 60 monthly repayments of £193.33; Total interest payable £1,599.80; Total amount payable £11,599.80

APR Representative 6.18%

 

What can you expect from us?

  • Personal service from our friendly, professional investment team
  • Decisions made by people, not computers
  • We can often lend when your bank can’t
  • A Responsible Finance Provider
  • Signposting to other sources of finance and support