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Business loans

There are various sources that can provide finance and loans to exisiting and established businesses.

Sources of business loans

The Midlands Engine Investment Fund (MEIF)

Provides over £250m of investment to boost SME growth in the Midlands and offers commercially focused finance through local delivery partners. Finance is available in 4-ways; small business loans £25,000-£150,000, debt finance £100-£1.5M, proof-of-concept up to £750,000, and equity finance funds £50,000-£2M.

One Stop Business Finance

Provide secured loans for SMEs for all types of business funding requirements when the banks can’t help. They are particularly strong with businesses that are in a period of growth or are in the process of turning the business around from adverse effects, whether it’s working capital, bridging, development, or business acquisitions. They will work with businesses helping them to find the right solution as quickly as possible.

The FSE Group

Provide funding solutions to support established SMEs with revenue streams more than £100,000. Minimum £100,000 loans are available; repayment periods are between 1 to 5 years.

First Enterprise – Enterprise Loans

Offer a range of funding opportunities for businesses with finance between £500 and £250,000 for start-up and existing businesses looking to grow. These funds are all designed to ‘plug gaps’ in High-Street lending and are backed by the Government to help businesses and individuals who might not otherwise be able to access business finance. First Enterprise also provide loans from the Midlands Engine Investment Fund Small Business Loans fund. They are also a delivery partner for Big Society Capital’s Community Investment Enterprise Facility fund which is aimed at providing finance to those businesses in communities which need it most.

NatWest Rapid Cash

Designed for SMEs, NatWest Rapid Cash is an innovative and hi-tech financing solution that allows businesses to borrow against unpaid invoices and get a flexible line of credit from £25k to £1 million. Rapid Cash could lend up to 90% of the value of unpaid invoices, allowing businesses to maintain a healthy cash flow.

To be eligible for Rapid Cash you must meet the following criteria:

  • Trading for more than 6 months.
  • An annual business turnover of at least £100,000
  • Either a Limited Company or Limited Liability Partnership in England or Wales
  • Have an eligible accounting package
  • Invoice your customers on credit terms for goods or services you've provided.