Where a business loan proposal does not meet the criteria for the Scottish Microfinance Fund (SMF), DSL has its own loan fund available.
This fund has been in existence for many years, and is often used as part of a funding package for a business as the “makeweight” in a commercial transaction where other lenders are also supporting the proposal, but the risk is shared between them and DSL. In these circumstances, DSL would provide funding via it’s Enterprise Finance Guarantee Scheme (EFG) license which is backed by the Scottish Government.
DSL has been assisting businesses in Scotland using the EFG scheme since its introduction and also through its predecessor, The Small Firms Loan Guarantee Scheme (SFLGS). Interest rates range between 6% and 9% and unlike the SMF, some fees are payable. The maximum loan sum available under the EFG scheme from is £50,000.
The loan calculator is designed to help you work out what your total and monthly repayments will be, depending on the loan term and amount you choose. We offer loans from £1,000 to £50,000 at a fixed interest rate of 6% per annum (6.168% APR) to 9% per annum (9.381 APR) and you can choose a loan repayment term up to five years.
We treat all our customers and their applications on an individual basis. At least 51% of accepted loan applicants will be offered the Representative APR advertised for this loan amount and term, or a lesser APR. All other accepted applications will be offered a higher rate. The APR we offer is determined by the details you supply and the loan you are applying for, along with an independent verification of your credit and repayment history and presentation of your business proposal.
Annual Interest Rate (fixed) is 8% p.a. (9.2% APR) based on borrowing £15,000 and repaying over 5 year in 60 monthly repayments of £304.15 each with total amount repayable of £18,548.69.
New and existing DSL Business Finance clients will also receive free registration to become a member of the Federation of Small Businesses (FSB). Get in touch with us for more details.