Enterprise Loans provides finance to individuals, micro businesses and SME’s to support good business ideas that could be difficult to fund through other means.

Loans can be used to:
Secure services
Purchase equipment
Meet a shortfall in funding for specific new projects, not existing running costs.

Loans of £3,000 to £150,000 can be used to turn ideas into a new business or allow an existing business to reach it’s growth potential.

Loans are offered on an unsecured basis with repayments being made over a period of between one and five years. Loans are discretionary and should not be seen as guaranteed. However, one of our Business Advisers can help you with the paperwork during the application process and any questions that you may have.

Enterprise Loans currently have a portfolio of 5 loan funds including the Government Backed Start Up Loans and Midlands Engine Investment Fund Small Business Loans.

Are you eligible?

Basic criteria:

Applicants must be aged 18 years or over.
The applicant must have resided in or have had a business in the East or South East Midlands for more than 18 months and have leave to remain in the UK.
The business must be located in the East or South East Midlands.
The business must comply with all statutory, regulatory and legal requirements.
The business must demonstrate either job creation or safeguarding.
The viability of the business or proposition must be demonstrated.
A minimum contribution of 5% is required from you where the loan is being used to meet any shortfall in your funding requirements.

Enterprise Loans will not fund:
Businesses involved with religion, pornography, gambling, money lending, property purchases or property development.
Fund the purchase of cars, except in the case of commercial vehicles deemed to be essential to the business. Leasing is the preferred route for all vehicle purchases.
Applicants who already have access to sufficient funding for their venture.
Applicants who do not have leave to remain in the UK.

For further information: Visit http://www.first-enterprise.co.uk/business-loans/

Email reception@first-enterprise.co.uk Telephone 0345 602 7355