Larger loans in disadvantaged areas
Larger loans are available for start up and growing businesses that are based in London’s most disadvantaged areas (called Objective 2 areas). Use the postcode checker to discover if you are in one of these areas.
If you have been unable to obtain traditional bank finance, GLE oneLondon can offer:
- Loans of up to £20,000 for start-up businesses
- Loans of up to £50,000 for existing growth oriented businesses
- Larger loans between £50,000 and £250,000 to existing growth oriented businesses, which will include an opportunity for the fund to share in the financial success of the SME
Business plan writing
Through the Access to Finance programme we also offer a heavily discounted
business plan writing and pre-finance support service. Clear plans
which your bank can understand are critical to successfully raising finance. With
this help you can formulate your plans ready for submission to your bank
as well as to GLE oneLondon.
For
more information about access to finance click here
How to apply
Step one
Whether you need a loan, business plan support, or both, contact a GLE oneLondon
loan manager to request more details and check whether you are eligible. (Steve on 020 7940 1531 or Ron on 020 7940 1577)
Step two
They will tailor an application process to meet your needs, to get you ready
for finance and to apply for a loan.*
Step three
Normally, we will arrange for a diagnostic review of your business to be
completed to learn whether you are ready to apply for a loan and if we can
provide you with help to prepare your business plan. Occasionally,
you may be ready to make an immediate application for a loan.
Step four
When you are ready to give us a viable and realistic business plan, it should
be sent to us along with our application form.
Step five
We will meet with you to understand your plans and may then invite you to
attend a loan panel meeting to assess your application.
Download application form
*If you live to the east of London we may refer your request to our partner organisation in your area.
The larger loan fund has been developed by the London Development Agency and Business Link for London, with support from European Structural Funds and Government Office for London, with matching funding from Barclays Bank.
