But is it for you?

You probably don’t call yourself a ‘business’, but does that stop third sector organisations accessing the growing financial support available to ‘businesses’?  The answer is ‘no’ but the more important question might be ‘are they relevant to us?’ and in most cases this will be ‘no’ too!  

In January 2009 a multi-billion pound package of measures was announced to address the cash flow, credit and investment needs of small and medium businesses under the title ‘Real Help for Business’.  

However, unless a loan is right for you, and it will be for some, there’s no point in pursuing this further. If you are planning a large capital investment, or investing in the introduction of a new product/service which will service debt finance, getting a loan in the current climate should have been made easier.   Our social enterprise specialist Cris Jezard will be happy to help you identify whether a loan would be right for you.  Email Cris or call on 01962 857374

The Enterprise Finance Guarantee aims to help credit-worthy companies with a turnover of less than £25m, which might otherwise not get the finance they need for working capital or investment, to borrow up to £1m. 

The government will guarantee 75% of the loan, with the lending bank covering the remaining 25%. This scheme is available through most high street banks and can also be used to convert existing overdrafts into loans to enable organisations to free up their current overdraft facilities to meet working capital demands.  

For more details of this, other government schemes, other sources of finance and your eligibility for them, visit the Department for Business, Enterprise & Regulatory Reform’s new online tool here.