Lpans for London Based Businesses

Venka · #1 (**permalink**) 12-07-2008, 06:12

Hello,

We have recently obtained funding through a government program as we were unable to get funding through our business bank due to the credit crunch. There are still funds available and my business mentor (you get a business mentor included in the 'package' which I actually find extremely beneficial) just told me that there are still loans available before the year runs out. (the budget needs to be spent)

Existing businesses can apply for up to £50K and there are some new funds which can offer more. If the business has not started yet or has been trading for less than 18 months, then you can only apply for £20K.

If interested, please PM me and I will forward you the details. The loan has given us opportunities that we would have never been able to obtain otherwise so I thought this post may be helpful.

Indizine · #2 (**permalink**) 12-07-2008, 14:25

If there is any government funded loans (note this post refers to a loan and not a grant) then Business ink London and various London-based Enterprise Agencies will know of this availabilty. Visit www.nfea.com for your nearest agency.

Venka; best if you supply the details here? Seems a needless task to have to PM you when you could simply post the contact details here

Be careful of start up loans; though this isnot a warning, just that I was a director of a South Yorkshire gov-funded microloan company and often (not always) they are for people who cannot get a normal bank loan hence have to prove they cant get one with a reject letter then these loans are available, upon meeting criteria. Usually quite a good interest rate for last-resort lenders, which is why they are supported via the government.