FAQs

Q I have never completed a business plan before, can you help me?
A Yes, here’s a link to Business Link who run a series of one day workshops aimed at helping you build your business plan and financials.

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, Fredericks Foundation and the Prince's Trust.

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 and Surrey. Can you help me?
A Unfortunately, you will be outside of the scope of our scheme and we will not be able to assist. Take a look at our links and partners page as there may be other options open to you.

Q. I have no assets. Will you consider providing a loan on an unsecured basis?
A We provide loans on both an unsecured and secured basis. However, we will only provide unsecured loans in exceptional circumstances at the top end of our loan range.

Q. I require finance of in excess of your maximum. Can you still help me?
A Only in very exceptional circumstances will we consider proposals in excess of our limits.

Q. I am an existing business and I need to finance my working capital requirements. Will you consider an application for these purposes?
A Loans for working capital requirements will only be considered with the Hastings Working Capital Loan and the Enterprise Finance Guarantee Loan.

Call us now on 0845 6018326