Small Business Loans Glasgow

This page provides relevant content and local businesses that can help with your search for information on Small Business Loans. You will find informative articles about Small Business Loans, including "Apply to the Small Firms Loan Guarantee scheme". Below you will also find local businesses that may provide the products or services you are looking for. Please scroll down to find the local resources in Glasgow that can help answer your questions about Small Business Loans.
DSL Business Finance
0141 4252930
Moorpark Court
Glasgow
Reid Scott and Ross
0141 225 8500
4th Floor Queens House
Glasgow
Penny Lane Financial Services
0845 678 3131
Studio 32, Sir James Clark Building
Paisley
HSBC Bank plc
0845 7404404
50-52, High St, Inverness
Inverness
Inverness Credit Union Ltd
01463 220884
74, Telford St, Inverness
Inverness
Champion Finance
01416345727
52
Glasgow
AXA SME Solutions
0845 300 0678
3 Atlantic Quay
Glasgow
London Scottish Finance
0141 840 1335
43 High St
Paisley
Nationwide Building Society
0845 2660916
16, Eastgate, Inverness
Inverness
Welcome Financial Services
01463 712750
Upper Ground floor, 9-11, Bank Lane, Inverness
Inverness
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Apply to the Small Firms Loan Guarantee scheme

All too often small businesses with viable business proposals are unable to obtain a conventional loan because of a lack of security. The Small Firms Loan Guarantee scheme helps these businesses by guaranteeing loans from banks and other financial institutions.

What are the terms?

Loans are available for periods between two and ten years on sums from £5,000 to £100,000 (£250,000 in the case of businesses which have been trading for more than two years).

The Small Business Service (SBS) guarantees 70% of the loan (85% in the case of businesses trading for more than 2 years). In return for the guarantee, the borrower pays the SBS a premium of 1.5% per year on the outstanding amount of the loan. The premium is reduced to 0.5% if the loan is taken at a fixed rate of interest.

The commercial aspects of the loan (such as the interest rate) are matters between the borrower and the lender. A capital repayment 'holiday' of up to two years is available.

Eligibility criteria

New and existing UK companies with an annual turnover no greater than £1.5m (£5m in the case of manufacturers) can apply for the loans. Many business activities are eligible but there are a number of exclusions. Loans are available for most business purposes although there are a number of restrictions.

Applications should be made direct to one of the lenders who are involved with the scheme. They are: Bank of Ireland, Bank of Scotland, Barclays Bank, Clydesdale Bank, Co-operative Bank, Doncaster Business Advice Centre, First Trust Bank/Allied Irish Banks, Lloyds TSB Group, London Enterprise Agency (LEntA), HSBC Bank, Northern Bank, National Westminster Bank, Northern Venture Managers Ltd, Royal Bank of Scotland, State Securities plc, Triodos Bank nv, UK Steel Enterprise, Ulster Bank, Venture Finance plc, Yorkshire Bank, Yorkshire Enterprise Ltd.

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