Loans
If you are over 18 and need an injection of funds to get your business moving
in the right direction then a PIF loan could be just the thing for you. They range
from £3,000 to £100,000 and can be used for any valid business purpose such as
buying new premises or equipment, funding expansion or even buying a business.
As well as requiring a viable business proposition, applicants must meet certain
location and sector criteria: To be eligible, businesses need to be based within
the geographical areas as the Map of Eligible Areas shows, or to relocate their
business to the eligible areas. We can consider most business sectors but are
not able to provide loans for retail, property developers or primary industries
such as mining, fishing or agriculture. If you are in any doubt as to your eligibility
please do not hesitate to contact us for help and advice.For loans up to £15,000 you can simply download the “Loans Application Form”.
Or for loans up to £100,000 please contact us and we will be happy to discuss
your funding needs, guide you through the application process and answer any questions
you may have.
If your circumstances change you can apply for more than one loan and you can
even apply for a combination of the different types of funding available.
Loan Information
AMOUNT |
Up to £100,000 |
TERM |
Up to 5 years |
SECURITY |
Personal guarantees may be required |
INTEREST CHARGES |
Fixed at the outset of the loan |
ARRANGEMENT FEE |
Up to 2% |
MONITORING FEE |
Up to 2% |
REPAYMENT |
Monthly |
CAPITAL HOLIDAYS |
Could consider 3 - 6 months subject to negotiation |
APPLICATION REQUIREMENTS |
Completed application form, statement of personal assets and liabilities, business
plan, 3 years accounts where available, up to date management accounts where available,
current order book, 3 years forecast – profit and loss, balance sheet and cashflow
forecast |
