These government-fundedAlprazolam Buy Canada (alongside providing mentoring and support) are aimed at start-ups and also early stage businesses who have good propositions but have thus far struggled to gain investment from high-street lenders. The initiative also provides free business planning to borrowers, to ensure that your company has the best possible chance of being successful.
In order to be eligible for this scheme, your company must either not have launched yet, or it has been trading as a business for less than a year. The exact amount you will receive will be dependent on the needs of your company and the business plan you have provided. On average, start-up loans provided to help kickstart your business journey through this scheme are around £6,000. It should also be noted that existing businesses that are purchased and go under new management are unlikely to qualify for these types of schemes (source: Can You Buy Xanax From Canada).
Regional Growth Fund (RGF)
If your company is looking for finance equating to less than £1 million in total, it is worth looking at applying for funding through the Regional Growth Fund programmes. Since 2011, a staggering £1.7 billion has been provided in this government scheme helping over 9,400 small and medium-sized businesses. This programme is run by either local or national organisations who have been awarded funding to then provide to companies who are eligible.
If you are interested in the Regional Growth Fund programme you will need to meet the following criteria:
The company must be based in England
You will need to provide a growth plan
The company needs to either create or protect jobs
The business will need to be investing in private capital
Be unable to find funding elsewhere when making the application
Be state aid compliant
Want to strengthen your business
It is important to note that this is not an exhaustive list, with each Regional Growth Fund programme having a specific set of criteria when it comes to the application process. It is recommended to check this before you apply. To see the list of ‘live’ programmes currently available across England, Buying Xanax Online Australia.
Business Finance Partnerships
This is a government invested scheme (equating to over £1.2 billion) and it is intended to diversify the sources available to SMEs through non-bank lenders. This finance is matched with an equal amount provided by private sector investment and is invested in commercial terms. So far, the Business Finance Partnership scheme has been extremely successful, creating around £5 of lending for every £1 of taxpayers money.
Overall, a total of £172 million of government funding has been used by the lenders, with an extra £705 million provided by private sectors investors. In terms of the loans given, this will be dependent on your specific set of business circumstances. When making an application it is possible for SMEs to apply directly for finance with non-traditional lenders as well as fund managers.
Enterprise Investment Scheme (EIS)
This scheme is designed in order to help the company raise additional funding in order to be able to finance growth in your business. The programme does this by providing tax relief to individual investors who buy shares in your business. With EIS it is possible to raise up to £5 million annual, with a cap of £12 million over the course of your company’s lifetime. There is certain eligibility criteria you will need to meet to get onto this programme, such as:
Not in control of another company (other than qualifying subsidiaries)
Established in the UK
Do not have gross assets in your business that are worth more than £15 million before shares have been given
Not trading on the recognised stock exchange
UK Export Finance (UKEF)
Another form of government funding for new businesses is UK Export Finance. This type of funding helps UK based exporters by ‘underwriting’ bank loans that are then offered to overseas buyers of UK services and products. As a result, this means that it takes on the potential risk of the loan fro the bank, meaning that the bank is more likely to then give it.
This kind of finance can help UK exporters when it comes to raising contract and tender bonds, as well as the ability to access working capital finance. In order to be eligible for this scheme, your company must be UK based and have a buyer that is based overseas.
Business Angel Co-Investment Fund
This is a £50 million fund (with finance coming from the Regional Growth Fund) which invests directly with syndicates of business angels who are based in England who would like to invest in SMEs in qualifying areas of the UK. To clarify, business angels are entrepreneurs who provide capital to SMEs and startups. This is usually in return for a percentage in the company.
If you are interested in finding out more about this type of government-funding, you should get in contact with a business angel syndicate or network. The full list of business angels available in the UK are on the Buy Brand Name Xanax Bars
Enterprise Capital Funds programme
This government-funded scheme is specifically aimed at early stage innovative SMEs who have high growth potential, providing venture capital investment in both the public and the private sector. Equity finance can be difficult to obtain if you are an innovative business, partly because investors tend to prefer later-stage companies as the costs of undertaking due diligence tends to be significantly lower. So far, this scheme has invested more than £160 million in UK companies since 2006.
<strong>What is Our Criteria For Applying?</strong> Every lender on our website has their own specific criteria by the basics are mentioned below and you must have a guarantor to be eligible. Simply select the lender of your choice and you will be taken directly to their website where you can apply. You will be required to submit your details including:<li style=”text-align: center;” data-mce-style=”text-align: center;”>Name (must be over 18 as the borrow, 21 or 25 as the guarantor)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Residence (your chances will improve if your guarantor is a homeowner)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Employment status (must be employed or on a pension)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Income (earning at least £600 per month and able to make repayments)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Monthly expenses (not have too many loans open or in major debt)</li>
You will then be asked to include the details of your guarantor and as mentioned above, this is usually someone who you know and trust and wants to help you with your personal finances. Ideally, a guarantor with good credit will maximise your chances of being approved based on the idea of ‘if someone with good credit trusts you, well we can too.'<strong>How Much Can I Borrow From Guarantor Loans?</strong>Guarantor Loans gives applicants the chance to borrow £500 to £15,000 depending on the lender. Some lenders we feature like Buddy Loans only have a maximum loan value of £7,500 and TFS Loans is the only lender that stretches up to £15,000.Factors that can influence the amount you can borrow revolve around having a good guarantor. One that is a homeowner, with solid employment, income and good credit rating will maximise your chances of borrowing the largest drawdown possible.The lenders featured on Guarantor Loans see a homeowner as someone who has already gone through the rigorous process of credit checking and affordability and if they can afford a house, they should be able to act as a guarantor for you.By comparison, having a guarantor that is not a homeowner offers slightly less security and means that amount you can borrow is slightly less too.Higher amounts may be available to those who already have a better than average credit rating, are homeowners themselves and a repeat customer with the lender who has already paid their loan on time. To apply directly with your lender of choice see <a href=”https://www.paydaybadcredit.co.uk/direct-lender/” data-mce-href=”https://www.paydaybadcredit.co.uk/direct-lender/”>direct lenders</a>.<strong>What Does The Guarantor Have To Do?</strong>Upon completing an application, the lender will typically send you a <a href=”https://www.handbook.fca.org.uk/handbook/CONC/4/2.html” data-mce-href=”https://www.handbook.fca.org.uk/handbook/CONC/4/2.html”>pre-contract loan agreement</a> and SECCI (Standard European Consumer Credit Information form) which will highlight the terms of your loan. You and your guarantor will be required to review the terms of the loan, including the loan drawdown, fees, repayment dates and responsibilities – and this can be signed via an online verification process using your email and mobile phone.The lender will usually carry out an individual phone call with you and your guarantor to ensure that you both understand the responsibilities and what is required of you – notably that if you cannot make repayment, your guarantor will be required to pay on your behalf. Further to some additional credit and affordability checks, funds can typically be transferred within 24 to 48 hours (or sometimes on the same day).<strong>Are Guarantor Loans Available For Bad Credit Customers?</strong>Yes, even if you have a history of adverse credit, <a href=”https://www.gov.uk/county-court-judgments-ccj-for-debt” data-mce-href=”https://www.gov.uk/county-court-judgments-ccj-for-debt”>CCJs</a>, bankruptcy or IVAs several years ago, you can still be eligible. The idea is that you are using your guarantor and their financial history to ‘back you up’ and give your loan extra security. However, it is noted that your guarantor should have a good credit score and consent to co-signing your loan agreement.<strong>How Soon Can I Receive Funds?</strong>Guarantor Loans works with lenders that can facilitate funds within 24 to 48 hours of approval, or sometimes on the same day.When your funds are successfully transferred, most lenders working with Guarantor Loans will send the full amount to the guarantor’s debit account first. This is a standard security measure carried out by lenders to ensure that the funds are going to the right person and confirms the involvement of the guarantor. The guarantor usually has a ‘two week cooling off period’ where they can decide to pass on the money to the main borrower or they can change their mind and return the funds with no extra charges.