Unsecured loans - £5K to £100K - Director's personal guarantee required
Secured loans - £100K to £500K - All asset security, 2nd charge sufficient
Asset finance loans - £20K to £500K - HP agreement, no deposit, full VAT option
Loan terms - 1, 3 & 5 years
Located in the Tees Valley.
Must be a limited company or limited partnership.
Turnover over £100,000.
Must have at least two years of filed accounts with
Business must be stable and credit worthy.
Company must have a UK resident director.
No sector exclusions (other than property development).
No requirement to safeguard or create jobs.
Loans for any purpose (except property development)
Expansion and growth.
One off payments and projects:
eg Marketing campaign
eg ISO quality system
Interest rates from 6.4% average 8.6%
Draw down fees between 3% and 5%
The scheme is a peer to peer lending scheme facilitated by the UK's leading peer to peer to peer lenders THE FUNDING CIRCLE.