Social enterprise property-backed loans

If your social enterprise has equity in property and is seeking to grow, or is looking to purchase a property but has been unable to get all the financing from your bank, then consider applying for a property-backed loan from the Wholesale Loan Fund.

Quick facts

• borrow between £20,000 and £250,000
• repayable monthly over 15 years (typical)
• interest rates* range from 5.0% to 10.0%, fixed for the first three years
• a one-off administration fee is payable, to cover our running costs
• legal and professional valuation fees to be covered by the applicant (recent existing valuations may be acceptable)
• limited capital repayment holidays may be considered

Eligibility

• is the business a non-profit-distributing company, a charity that engages in enterprising activity, or a Community Interest Company?
• businesses must trade within a greater London borough
• business owners must have a right to work in the UK on a permanent basis
• security is not always necessary, although all available assets must be offered and personal guarantees will be required where applicable

Application

• complete the application form (see below)
• prepare a business plan to support your request
• send these together with the supporting documents listed in the application to:
  London Business Loans, managed by GLE oneLondon, New City Court, 20 St Thomas Street, London, SE1 9RS or email it to wholesaleloans@gle.co.uk

Download the application form

Download our business plan guidelines

All loans are subject to a credit assessment. Further terms and conditions may apply.
*Interest rates may vary from time to time - correct as at 17.02.2009.