£8 million loan fund for individuals, private companies and social enterprises in the SME and micro enterprise size range and in the start-up or growth phases of development. Loans are typically unsecured and range between £10,000 and £100,000.
- Businesses applying must be substantially based in Northern Ireland.
- There must be an identified funding gap in a proposed investment whereby applicants have tried and been unable to raise all required funding from Banks/financial institutions.
- Applicants will need to clearly demonstrate their ability to service the loan repayments.
- There is a maximum loan amount of £15,000 to start-up enterprises (businesses trading less than two years).
- Loans are provided on commercial terms with pricing reflective of the risk involved.
- Loans are typically unsecured, although personal guarantees may be sought.