Transition Loan Fund

This is a fund which is available over the next 6-12 months to help viable businesses that are facing a shortfall of working capital and who are likely to have jobs at risk to help them:

• survive through the economic downturn
• safeguard jobs during this period
• be able to benefit when the economy begins to grow again.

Typically, these will be businesses which have been turned down for bank loans or the Enterprise Finance Guarantee.

There are 3 strands to the funding :

1. A loan fund for SMEs from Deprived Communities or for small businesses in which the balance of the management team is from disadvantaged groups (18-30, over 50, female or BME).  Typically loans of £15,000 to £25,000 with a maximum loan of £50,000.
    
2. Finance to support Business Angels loans for small businesses.  Minimum loan of £25,000 and a maximum of £100,000.  Typically, loans will be above £50,000.
    
3. A general loan fund for small businesses.  Typically these will be loans of £70,000 to £100,000 per company with a maximum of £250,000.   Applicants will be:
   
   
   • SMEs (<250 employees and turnover <€50 million)
   • Have a viable future with evidence of orders, forward revenues, sales prospects etc.

N.B. The figures above are just an indication of possible loan levels.

For more information contact contact us on: 08456 048 048, or email us at info@businesslinkyorkshire.co.uk