The loans are given to the directors/partners in the business, to a maximum of £25,000 per person. Hence, two directors could raise £50,000. The current interest charge is just 6%, and no personal guarantee is required.
The scheme is delivered through various local agencies, who will also assist with writing a business plan and provide mentoring for up to 12 months.
There are restrictions to these loans, so very often my clients raise as much as possible through the scheme because of the advantageous terms. I then work with them to secure the balance of money required from my panel of commercial finance companies.
Feel free to message or call me for more information: email@example.com or 07557 980473
Associated Commercial Finance
Business & management coach, mentor, trainer, author, speaker, social entrepreneur, (and chief pot and bottle washer!)