Unsecured Start Up Business Loans Up to 150K

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Unsecured Start Up Business Loans Up to 150K Powered By Docstoc
					Quick Reference Guide                                                                                                                               Funding to grow.


Finance Yorkshire is the new                                                                         A simple application process
                                                                                                     • check your eligibility at www.finance-yorkshire.com
£90million fund set up to provide                                                                      (if in doubt, call us)
businesses across the Yorkshire                                                                      • complete an application form which can be downloaded
                                                                                                       at www.finance-yorkshire.com
and Humber region with funding                                                                       • When we have received your application one of our Investment
to start and grow.                                                                                     Managers will contact you to discuss your project

Planned to start investing in early Spring, the Fund will provide                                    We could help if you are:
seedcorn, loan and equity investments ranging from £15,000                                           • an SME* paying business rates in Yorkshire and the Humber
and £2million, to help small and medium businesses (SMEs*)                                             or relocating to the region
raise the funding they need alongside investment from the                                            • a new start-up or growing business
commercial market.                                                                                   • a business with growth potential
                                                                                                     • a business unable to source its full funding requirement
For the first time Finance Yorkshire provides region wide access                                       from the commercial market
to finance for all qualifying businesses. Through working with
financial intermediaries, other lenders and investors Finance                                        Types of deals:
Yorkshire will make deals happen.                                                                    •   Capital expenditure
                                                                                                     •   Working capital
The Fund has been created using investment from Yorkshire                                            •   Start-ups
Forward, ERDF from the European Union and the European                                               •   Expansions
Investment Bank and can back eligible businesses through
critical stages of growth from start-up through to major                                             What information we need:
expansion.                                                                                           •   Completed application form (website)
                                                                                                     •   Statement of personal assets/liabilities (website)
Our investment packages are suitable for most business sectors,                                      •   Business plan
the main exceptions are retail businesses, primary industries                                        •   If an existing business, last 3 years accounts
such as agriculture and some property development.                                                   •   If an existing business, up to date management accounts
                                                                                                     •   Current order book
**Please see below for additional exceptions.
                                                                                                     •   3 year forecasts - profit and loss, balance sheet, and cashflow




     Seedcorn Finance                                                      Business Loans                                                     Equity Linked Finance
     £15k - £780k                                                          £15k - £150k                                                       £100k - £2m

    • New and early stage technology
    Seedcorn Fund 15k - £780k                                             • Typically unsecured loans of                                     • Equity-based investments from
      and knowledge-based businesses                                        between £15,000 and £150,000                                       £100k to £2m
    • Clients likely to be pre-revenue                                      for established businesses                                       • Mezzanine loans (with equity
      and high risk but have potential                                    • Typically unsecured loans                                          options or redemption premium)
      for high growth and for good                                          between £15,000 and £50,000 for                                    from £100k to £1m
      return realisation                                                    start up and early stage                                         • Joint equity linked packages up
    • Equity-based investments usually                                      businesses                                                         to £2m
      made in tranches as the business                                    • Investments may include capital                                  • All types of investment
      develops and grows                                                    expenditure and cashflow finance                                   considered including growth,
    • Specialist support given to                                         • Interest rate rebates available to                                 capital expenditure and some
      growing businesses in return for                                      established businesses (subject                                    larger start-up businesses
      a share of the eventual returns                                       to conditions)



*An SME (Small or Medium sized Enterprise) is a business employing less than 250 employees, with     ** Exceptions Finance Yorkshire cannot invest in the following:
an annual turnover of less than 50m euros or balance sheet net assets of less than 43m euros. The    Re-financing existing commercial borrowings, failing businesses, expansion finance in medium sized
business cannot be part of a larger group employing more than 250 employees where the group          businesses (50 - 250 employees) in non assisted areas (We are working to reverse this last exclusion
owns at least a 25% share of the business.                                                           but this may take up to six months. If this exclusion is likely to affect you, please talk to us).




                                                                                                    www.finance-yorkshire.com
                                                                                                    Tel. 0845 649 0000 info@finance-yorkshire.com

				
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