How to apply for a loan
Step 1: Calculate your loan
* Interest calculated at 8.5% for indicative purposes only. For latest interest rates telephone 020 7940 1571.
Step 2: Download and complete a loan application form and send it to us
As part of your application, we ask you to submit a business plan
Download our business plan guidelines to assist you
If you have any questions about the application process or any of the documents requested, please contact a member of the Business Loans team at businessloans@gle.co.uk / 020 7940 1571. We ask that before submitting your application that you check that you have completed the application form fully and that all documents requested have been provided. This will ensure that we are able to process your application speedily and efficiently.
Step 3: Application assessment
Your application will be assessed by a member of the Business Loans team. At this stage, if a decision is made not to progress your application, we will provide you with our reasons. If we do wish to progress your application to the next stage, we will invite you to a loan panel interview.
Step 4: Interview by the Business Loans Panel
You will be interviewed for approximately one hour by a panel of two highly experienced lenders with wide ranging and substantial experience in lending to businesses. You will need to explain your loan proposal and will be asked detailed questions which may include testing your assumptions and knowledge of the market, understanding your background and ability to implement the proposed plans as well as your ability to service the loan in the best and worst case scenarios.
Step 5: Receiving the loan
If your loan is agreed at the panel meeting, we will send you loan documentation to complete. Once it has been returned we will transfer the funds into your bank account. Your first loan repayment must be made one month later.
