Finance Birmingham

 

National Tooling Funding Programme

 

Key Features

  • £24m revolving national tooling fund
  • Loan facility £50k to £1m
  • Commercial rate of interest (indicatively 7.5% above the prevailing Base Rate), Arrangement Fee 2%,
  • Aimed at toolmakers and component manufacturers
  • Purpose – to fund design, development/manufacture of tools or expansion of tooling capacity

 

Criteria:

o    Final manufacturing of the tooling and subsequent component production to be in England

o    Firm order for the tooling from an OEM/Tier 1 or similar

o    Evidence that traditional sources of finance not available

o    >2 years trading track record and proven ability to complete similar projects previously

 

  • Tranched drawdowns (usually 3)
  • Repayment from applicant once payment received from the OEM/Tier 1 or similar
  • No personal security required
  • Debenture security but priority to existing debenture holders
  • Focus on jobs creation/safeguarding

 

Contact Finance Birmingham Tooling team to discuss your requirements –

 

Telephone                              0121 233 4903

Email                                      stevehetherington@financebirmingham.com

                                                  mariekelly@financebirmingham.com

Website                                  www.financebirmingham.com/tooling

 

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Tooling Fund Programme

 

Finance Birmingham Limited is authorised and regulated by the Financial Conduct Authority and is entered in the register under registration number 579201