Business Funding/Finance
Business Finance and Support Finder – https://www.gov.uk/business-finance-support-finder
This link outlines all the government backed support currently available, you may want to save the link for any future updates
Start Up Loans http://www.startuploans.co.uk/ The start up loans is the government loan scheme for business start ups. You will get assistance with putting your business plan together then this will be put forward to the panel for the loan
To identify a provider please visit: www.startuploans.co.uk/partners/delivery-partners/
New Enterprise Allowance
http://www.dwp.gov.uk/adviser/updates/new-enterprise-allowance/
Sources of Finance
Investment Escalator
Who: Pre-start, start-up and established
What: Free programme to access support, finance and investment. Also includes range of workshops, master-classes, consultancy, peer-to-peer review, collective and one-to-one coaching.
Sector: All
When: Ongoing
Website: http://www.lsbu.ac.uk/business-and-partners/business/access-our-expertise/smes-investment-escalator
Tel: 020 7815 6904
E-mail: investment.escalator@lsbu.ac.uk
Additional Information: London South Bank University (LSBU) has developed the Investment Escalator. It is a free programme, part-financed by ERDF, It includes a quick, initial diagnostic to identify areas of strength, improvement and development. The client then works with expert advisors to develop an action plan which defines their pathway through the programme.
Start-up Loans London
Who: Pre-start and start-up, trading up to 24 months(18yrs of age and over)
What: Loans from £500 (typical loan around £6,000 but can be higher).
When: Ongoing
Sector: All
Website: http://www.financing-startup-enterprise.co.uk
Tel: 020 8366 8244
E-mail: info@londoncommunityfinance.org
Additional Information: Clients can also get advice, assistance and training from business support partners. If they are successful with their application they will qualify for a number of exclusive offers that will help their business start up and expand. Managed by North London Community Finance for the London area.
Fredericks Foundation – London Hub
Who: Pre-start, start-up and established
What: Start-up: maximum loan of £10,000. Established businesses: maximum loan of £20,000
Sector: All
When: Ongoing
Website: http://www.fredericksfoundation.org/london
Tel: 0208 166 8966
E-mail: marcie@fredericksfoundation.net
Additional Information: The Fredericks Foundation will consider clients for a loan and business support if they can demonstrate that they have made a genuine application for funds to their bank or a mainstream lender – and that you have been turned down. The business can be at any stage including start-up, needing capital to expand, or funds to bridge a gap. The client could be a sole trader, in a partnership or have a limited company. Loans are not available to support training.
North London Credit Union – Business Loans
Who: Pre-start, start-up and established
What: They can lend up to £15,000 per individual (all loans are personal loans for business purposes).
Sector: All
When: Ongoing
Website: http://www.northlondoncreditunion.com/business-loans/
Tel: 020 8366 8244
E-mail: info@londoncommunityfinance.org
Additional Information: Managed by the North London Community Finance credit union. Offer finance to both established businesses and those setting up new enterprises, provided that they are or will be based in one of the London boroughs. Most types of businesses are eligible, providing they can demonstrate to the lending panel they are soundly based, and will be able to afford to repay any loan made.
East London Small Business Centre
Who: Pre-start, start-ups and established
What: Start Up loans (up to £10,000), Creative Industry Loans (up to £25,000), Growth Loans (up to £25,000) and Sharia compliant loans
Sector: All
When: Ongoing
Website: http://smallbusinesscentre.org.uk/finance/
Tel: 0207 377 8821
E-mail: info@smallbusinesscentre.org.uk
Additional Information: Provide ‘loans of last resort’ to new and existing small businesses. Unlike most high street banks, lending is not credit scored, but is based on the presentation of a comprehensive viable business plan.
Samuel Wilson Loan Trust
Who: Pre-start, start-up and established
What: Loans of up to £50,000 to people over 18 and under 40 years old
Sector: The fund specifically excludes “alehouse keepers, distillers or vendors of distilled liquors (unless incidental to the main activity of business)” and PLCs
When: Ongoing
Website: http://tinyurl.com/SamuelWilsonLoanTrust
E-mail: businessloans@gle.co.uk
Broadband Connection Vouchers – London
Who: Start-up and established
What: Access a voucher worth up to £3,000 for a faster broadband connection, usually of 30Mbit/s or more
Sector: Some sector restrictions apply; check with provider.
When: Ongoing
Website: https://www.connectionvouchers.co.uk/london/
Tel: 020 7983 4981
E-mail: broadband@london.gov.uk
Additional Information: Eligibility criteria apply and the business must use one of the approved suppliers listed on the website.
GLE Group
Who: Start-up and established
What: Range of financial products; grants, loans and equity
Sector: All
When: Ongoing
Website: http://www.gle.co.uk/finance/index.php
Additional Information: Grant finance for funding international trade support, innovation, technology research, manufacturing and third sector organisations. Cashflow finance supporting SMEs through services including payroll, debt recovery and invoice discounting. Equity finance. Different loans and support programmes have different contact numbers, check for most relevant
Fair Finance
Who: Established
What: Loans from £2,000 to £20,000 to entrepreneurs unable to access mainstream finance for their businesses
Sector: All
When: Ongoing
Website: http://www.fairfinance.org.uk/business-loans
Tel: 020 8988 0627
E-mail: info@fairfinance.org.uk/
Additional Information: A social business based in London. The business must have been actively trading for a minimum of 12 months. It lends to businesses based in / primarily operating in the London area.