Ambitious North East small businesses are being invited to apply to a new fund worth £9m to help them expand their operations and create new jobs.
The North East Small Loan Fund Supported By The European Regional Development Fund has been specially designed to assist the growth of more than 300 actively trading SMEs by offering loans to businesses based in Tyne & Wear, Durham and Northumberland.
Small Loan Fund Highlights:
- Typical investment range £10,000 to £50,000
- Terms of up to 5 years
- Loans are unsecured, without the need for Directors Guarantees
- No arrangement fee on loans under £25,000
Since it’s launch in April 2018, the Small Loan Fund has invested in a number of businesses, supporting a wide variety of growth plans. You can read about how these businesses are using the funding to take their business to the next level here www.smallloanfund.co.uk or call the team on 0345 369 7007.