Frequently Asked Questions
Q I have never completed a business
plan before, can you help me?
A Yes, we'll give you the opportunity to
attend a 3 day business 'start-up' workshop or we'll recommend
appropriate business training.
Q I know my Bank won't help me,
can you?
A We will be happy to consider all viable
business propositions that meet our criteria but it is a condition
that your Bank/Building Society has formally declined your
request in writing.
Q. Whilst my Bank will lend to me,
they will not lend the whole amount that I need. Can you help
me?
A Yes, we work alongside other organisations
such as Banks to help provide the total funding a business
requires. Other funding sources include grants, Prime, Prince's
Trust and British Legion.
Q. Do you lend to undischarged bankrupts?
A No, we will not consider requests until
you have received your discharge and can provide evidence
of this.
Q Can I borrow
for personal requirements?
A No, the scheme is only available to businesses
and social enterprises.
Q Can I take out more than 1 loan?
A Yes, but this will be subject to continuing
to meet our criteria and the satisfactory conduct of any existing
loans.
Q Can I repay the loan early?
A Yes, the loan can be repaid in full at
any time without penalty. However, there will be no refund
of any arrangement fees.
Q What happens if I cannot meet
the loan repayment?
A Please contact us immediately on 0845 601
8326 to discuss the situation.
Q What happens if I fail to repay
the loan?
A Whilst we will work with you to obtain
repayment of any loan, we are providing commercial finance
and reserve the right to take the appropriate legal action
in order to recover the debt.
Q Can I renegotiate the loan?
A Yes, we will be happy to sit down with
you and your business mentor and look to be as flexible as
possible. However, we are unable to extend the term beyond
60 months.
Q. My business is/will be located
outside Sussex/Kent. Can you help me?
A Unfortunately, you will be outside of the
scope of our scheme and we will not be able to assist.
|
