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Financial products your clients could benefit from

Loans for growing London businesses between £10,000 and £50,000, with competitive interest rates


GLE’s Loans team will assess your client's business on its own merits.Your client may be eligible to borrow £10,000 to £50,000 if

  • They plan to or are currently trading in one of London's 32 boroughs or the City of London
  • Their proposal has been rejected by commercial lenders such as banks
  • They have a business bank account

What's on offer

  • Unsecured business loans of £10,000 to £50,000
  • Competitive fixed interest rates from 12% to 16%, so they know where they stand every month
  • Arrangement fees of up to 2%

* Directors’ guarantees are required for Limited companies.

Loans for Croydon businesses between £2,001 and £25,000, with interest fixed at 4.88 %


Your client may be able to access up to £25,000 with interest fixed at 4.88% if

  • They're located in, or are relocating to Croydon.
  • They can provide 6 months' business bank statements.
  • They have been unsuccessful in obtaining finance from conventional commercial sources.
  • They're using the loan to further the purpose of the business and not to directly or indirectly finance the personal expenses of its owners, nor should it refinance or repay existing business borrowing or debts.

What's on offer:

  • Loans of £2,001 - £25,000
  • Up to three years to repay the loan
  • Interest rates at 4.88% pa, fixed for duration of loan (updated on 1st March 2014)

Priority will be given to applications which are likely to create jobs for local people.

Loans between £10,000 and £22,000 for Wandsworth businesses, with competitive interest rates


Your client may be eligible for a loan between £10,000 and £22,000 with interest from 12% - 16% if:

  • Their business ia based in Wandsworth or they are thinking of relocating it to Wandsworth.
  • They have been trading for over 12 months
  • They employ less than 100 staff
  • They have a permanent address in the UK
  • They have been turned away from commercial lenders
  • They have a viable business plan, which demonstrates their ability to repay a loan

What's on offer

  • Unsecured* loans between £10,000 and £22,000
  • Fixed interest rates between 12% and 16%, depending on the risks involved in lending
  • Free, personalised, impartial support from a finance specialist to help you throughout the entire application process.
  • A three year repayment period.
  • 2% arrangement fee
  • There are no early repayment fees. The loan can be paid back at any time without penalties.
  • There’s no automated credit scoring. Each application is assessed on its own merits.

Loans for London businesses up to £20,000, with competitive interest rates


Your client may be eligible to borrow £10,000 to £20,000 if:

  • They plan to or are currently trading in one of London's 32 boroughs or the City of London
  • They have been unsuccessful in obtaining finance elsewhere
  • They have fewer than 10 employees
  • They have a business bank account
  • They have the right to live and work in the UK

What's on offer

  • Unsecured* business loans of £10,000 to £20,000
  • Competitive fixed interest rates from 12% to 16%, so they know where they stand every month
  • No early repayment fees
  • Arrangement fees of up to 2%

* Directors’ guarantees are required for Limited companies.

They could use a loan to

  • Market their services
  • Deliver new contracts
  • Pay for equipment
  • Buy or rent offices or work space
  • Pay for operating costs

GLE oneLondon has teamed up with Lloyds Bank and the EIF to lend £5 m to London SMEs, through the London Loan fund, providing them with another way to raise finance. Up to £20,000 will be available to over 270 small and micro London businesses looking to grow.

While the fund may be small compared to the total financing needs of London’s SMEs, the sustainable model it demonstrates is, we intend, an exemplar for how to affordably create a £50m fund or even £500m. We hope and plan to repeat this on an ever-growing scale.

The London Loan Fund uses UK tax incentives and guarantees under the Progress Microfinance initiative established by the European Union to make the costly process of a detailed appraisal of the ‘person and their proposition’ commercially viable for smaller value and unsecured, small business lending.

For more information or apply for a loan

Telephone 0845 603 2820; email businessloans@gle.co.uk Or visit: www.glebusinessloans.co.uk/apply.

Lloyds Bank - European Investment Fund - Regional Growth Fund - Community Development Finance Association

Loans for Merton businesses up to £20,000 with competitive interest rates


Your client may be able to borrow up to £20,000 with interest at 10 - 16% if:

  • Their business is based in Merton or they're relocating it to Merton.
  • They have traded for over 12 months
  • They employ between 2 and 49 staff
  • They have an annual turnover of less than £5m
  • They have been turned away from commercial lenders, such as a high street bank

What's on offer

  • Loans of £10,000 to £20,000 to strengthen or grow.
  • Interest rates are 10-16% depending on how risky it may be to lend to your client.
  • They have up to three years to repay the loan.
  • The loan arrangement fee is 2%.

Loans to launch a start up business in the UK


Your client may be eligible for a start up loan and mentoring if:

  • They live in the UK and are aged 18 or over
  • They're legally entitled to live and work in the UK

What's on offer

  • Free support to prepare their application
  • Mentoring support once they start trading
  • A panel assessment by video conference, or in person if they live in close proximity, to help them borrow exactly the amount they need.
Click here to register your interest in becoming a referral partner

Got any questions? Speak to an adviser on 0845 603 2820 or email chris.o@gle.co.uk.

Got any questions?
Speak to an adviser on
0845 603 2820

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