Access to finance
| Project title: | LDA Objective 2 Start-Up and Growth Loans |
| Dates run: | October 2004 - present |
| Boroughs occupied: | Objective 2 wards in the London boroughs of Bexley, Brent, Ealing, Enfield, Hackney, Hammersmith & Fulham, Haringey and Waltham Forest. |
| Funder: | Start up: London Development Agency, European Social Fund, and Barclays |
The Access to Finance programme is designed to assist businesses from across the capital raise finance to start up or further develop their business. This programme assists businesses particularly within the wards and boroughs where the occurrence of disadvantage is highest, as measured by the indices of deprivation.
The start up loan fund provides loans of up to £20,000, to entrepreneurs who are about to start-up, or businesses who have been trading up to 18 months, who are unable to obtain all the support they need from mainstream lenders.
The growth fund loan provdes loans ofn up to £50,000 to businsses that have been trading for more than one year and are able to demonstrate a viable business. For larger businesses, 'mezzanine' loans of up to £250,000 can be offered, where the loan carries an additional provision to provide the fund with a share in the financial success of the business.
Key highlights:
Participants in the programme will receive:
- professional advice from local business experts
- advice on all types and sources of finance available
- a business plan tailored to meet specific financial needs and requirements
- coaching on how to present a professional case to funders
- a review of your business model and recommendations for improvements
All loan beneficiaries will also be provided with a free mentoring service to provides guidance to the business.
Case study:
Mezzanine loan - Brown Reference Group
Our partners:
These two loan funds have been funded by the London Development Agency, the European Social Fund, the European Regional Development Fund, and Barclays.
Contact us:
For more information about the start-up fund, contact Nicola on nicola.m@gle.co.uk
