South West Loans Fund
South West Loans Fund
Summary of key elements
Summary of key elements
| Maxiumum amount | £250,000 or £50,000 |
|---|---|
| Maximum term of loan | 5 years |
| Interest charge | Commercial interest rates will be charged in line with EU guidelines |
| Security | Security will be taken as appropriate to the risk profile of the individual proposition |
| Arrangement fee | 1% of loan amount payable up-front (minimum £75) |
| Monitoring fee | 1% per annum |
| Security fee | Valuation and legal fees, where applicable, will be payable up-front |
| Management support | Taking up Business Mentoring and/or other Management support services will be required as appropriate. |
| Multiple applications | Will be allowed provided that amount outstanding at any time to any business or group of companies does not exceed £250,000 |
