Business Finance North West is able to offer a range of loan funds for new and established businesses that are unable to borrow from traditional lenders all or some of the finance needed.
START-UP LOANS
Up to £10,000 available for new start-up businesses that have been trading for less than 12 months.
To apply you must have a viable Business Plan, the right business skills and a real commitment to make your business a success and be able to show a refusal from a bank or other financial provider.
GROWTH LOANS
If you are a growing, established business that has been successfully trading for at least one year, with audited accounts and a consistent trading record, you can apply for a growth loan of up to £20,000.
All applicants must have a viable Business Plan, the appropriate business skills and commitment and be capable of creating employment.
All applications are considered by an independent panel following a detailed appraisal by the Loan Funds Manager.
SUPPORTING INFORMATION
Please ensure that as well as the completed and signed application form the following documents are provided where applicable:-
- Full Business Plan including a CV.
- Cashflow and Profit and Loss Projections for 3 years.
- Personal budget planners and schedule of assets and liabilities for each applicant.
- A copy of a credit reference agency search for each party to the loan covering a period of not less than 3 years prior to the date of this application.
- 6 months business account bank statements (if an existing business).
- 6 months personal account bank statements for each owner, partner or director (if start-up).
- Last 3 years audited accounts.
- Letter of decline from Bank.
- Where a business overdraft is in place we require evidence that the review date for the facility is in excess of 3 months from the date of this application.
