Loans
There are a variety of loans available to Hub clients, and we encourage members to research the following links which detail the most relevant loans available to Hub clients.
Finance South East Commercialisation Loan
The Commercialisation Fund provides repayable finance to small and medium-sized enterprises (SMEs) for proof-of-concept and commercialisation activities that enable a new business idea to gain first revenues and market traction. Up to a total of £60,000 is available split into 2 phases. Phase 1 awards up to £30,000 for Proof of Concept activities, while another £30,000 can be borrowed for Commercialisation and Marketing activities under Phase 2 . The fund is financed by SEEDA and managed by Finance South East. For further information and details on how to apply please click here.
Finance South East Accelerator Fund
The Finance South East Accelerator Fund is a £10 million mezzanine loan fund providing an innovative source of finance for growth companies in the South East region. The fund offers to lend companies an initial £100,000 at any stage as long as they can demonstrate the potential for significant growth. A second loan of up to £100,000 can be made after 9 months.
Enterprise Finance Guarantee
Under the Enterprise Finance Guarantee, the Government will guarantee lending to viable businesses to ensure that they can get the working capital and investment that they need. This £1.3bn scheme will support bank lending, of 3 months to 10 year maturity, to UK businesses with a turnover of up to £25 million who are currently not easily able to access the finance they need. It will enable them to secure loans of between £1,000 and £1 million through the Government guarantee and is available up to 31 March 2010. If you would like to find out more about the EFG loan, please get in touch with us at the Enterprise Hub.
Capitalise Business Support
The Hastings Working Capital Loan is a short-term (up to two years) loan facility to support businesses through cash flow difficulties when they cannot access any, or sufficient, funding from usual borrowing sources, such as banks. You can currently borrow anything from as low as £100 up to £20,000. For more information please click here.
Finance South East Transition Fund
The Transition Fund provides loans of up to £150,000 for developing SMEs that are facing liquidity issues arising from the adverse financial credit squeeze. The bridging mezzanine loan is available to businesses with a minimum turnover of £1 million, in order to bridge the gap between the amount of finance businesses are able to raise from the commercial sector and the amount they need to survive and grow during this period of economic instability.