Business Eligibility

 

Many types of businesses can apply to DSL for the cash boost they need.

Types of businesses/social enterprises:

Sole Traders

Partnerships

Limited Companies

Limited Liability Partnerships

CIC- (Community Interest Company)

Company Limited by Guarantee

Industrial and Provident Societys

Credit Unions

Co-operatives

Borrowing Options

Enterprise Finance Guarantee

For details of all EFG providers click here

Security may be required in addition to EFG.

This is a Government sponsored scheme open to small and medium sized businesses.

This allows businesses to ' buy' access to funds when the business/guarantors have insufficient security to secure the borrowing.

The government guarantee provides security for the lender, the borrower is still liable for 100% of the debt.

You can access up to £1 million through this scheme, DSL offers a maximum of £30,000 at any one time.

The decision to lend lies with the lender’s assessment of the borrower’s ability to service the loan. The lender will also take into account the level of financial commitment that the people who control the business have.

If you qualify for the EFG, you need to pay a premium to BERR. Paid quarterly to aid cash flow, the premium is based on 2% per annum on the reducing loan balance

  

Other Finance Options

DSL offers other finance options as well the EFG scheme.

If there is any security available from the business or directors DSL can take this as security against the loan.

Social Enterprise funding- DSL offers social enterprise lending of up to £50,000. Please contact us for further information.