Sources of Funding

If you are looking for business loan finance to start or expand your enterprise there are various sources of finance available.

Mainstream bank lenders rectangle

Barclays:              www.barclays.co.uk/businessbanking    0345 6052345

HBOS:                  www.bankofscotlandbusiness.co.uk       0345 6060286

HSBC:                  www.business.hsbc.co.uk                      0800 0321770

Lloyds:                 www.lloydsbusiness.com                      0800 0560056

NatWest:              www.natwest.com/business                  0345 4135020

RBS:                     www.rbs.co.uk/business                       0800 0961958

Santander:            www.santander.co.uk/uk/business         0800 0687010

TSB:                      www.tsbbusiness.co.uk                        0345 8353865

Other lenders include:

Al Rayan Bank (Sharia compliant): www.alrayanbank.co.uk              0808 2565788

Allied Irish:                                 www.aibgb.co.uk/business          0870 2430331

Bank of Cyprus:                          www.bankofcyprus.co.uk              0345 8505555

Bank of Ireland:                          www.bank-of-ireland.co.uk           0345 8501234

Charity Bank:                              www.charitybank.org                  01732 441900

Clydesdale:                                www.cbonline.co.uk/business       0800 0323971

Co-op:                                       www.co-operativebank.co.uk         0800 764764

Triodos:                                      www.triodos.co.uk                      0800 3282181

Yorkshire Bank:                           www.ybonline.co.uk/business       0800 0323971

Lenders who may help when a bank cannot:

If one of the previous lenders refuses your application and you get evidence of that in writing, you can then apply to:

 - The Fredericks Foundation runs a microloan fund for people who are starting or expanding businesses; see www.fredericksfoundation.org

- Start-up Loan (a UK Government-funded scheme); see www.startuploans.co.uk

- Outset Finance works with entrepreneurs and helps them get ‘investment ready’ and is now an approved delivery partner for the Start-up Loan scheme; see www.outsetfinance.com

- South West Investment Group is one of a UK-wide network of not-for-profit Community Development Finance Institutions (CDFIs), often funded via central/local government, offering affordable loan finance for business. Only one funding application from a major bank need be declined before most (but not all) of its loans become available; see www.swigfinance.co.uk.

Funding for young people:

If you are under 31 and not in full time work and/or in possession of postgraduate qualifications, the Princes Trust may be able to assist with a test marketing grant or loan, provided you have first attended their enterprise course. See www.princes-trust.org.uk or phone 0800 842842

Funding for ex-military personnel:

If you are ex-military, you may be eligible for help through the British Legion. See www.x-forces.com/funding or phone 0800 1694073.

Crowd Finance/Crowd Funding

Crowd finance or crowd funding describes a cooperative approach by people who network and pool their money and other resources together, usually via the internet, to support ideas proposed by other people or groups/organisations. Sometimes referred to as ‘crowdsource funding’ or ‘equity crowdfunding’ there are a growing number of on-line platforms that might be worth investigating:

- www.crowdfunder.co.uk

- www.fundingtree.co.uk

- www.fundsurfer.com

- www.ukcfa.org.uk

- www.spacehive.com

- www.fundingcircle.com

Business Angels

A Business Angel investor uses their personal disposable finance and business or professional experience to invest in the growth of a small business, generally in start-up or early stage. Angel investors can make investments on their own or as part of a group or syndicate. See The UK Business Angels Association at www.ukbusinessangelsassociation.org.uk.

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