Obtaining finance to start up or grow a business can be very difficult.
You may have been turned down for a business loan, but don't just give up on your idea!
The Faith in Business Loan Fund could be just right to help you to succeed.

Faith in Business is a recognised Community Development Financial Institution (CDFI) providing ‘last resort’ finance, and access to business support for enterprises within disadvantaged communities.
The Loan Fund is available to anyone in West London thinking of starting a business, and existing businesses.

The loan can be used for the acquisition of capital equipment, undertaking marketing initiatives, obtaining commercial premises and other legitimate business expenses.
The Loan is not to meet cash flow difficulties or support poor working capital, or retrospective funding.

For:
Anyone who has had a business loan application declined by a commercial bank, and is a member of a Faith based organisation in the West London area. Applications may be considered from outside West London.

Startups (under 18 months), and existing businesses located in West London – Brent, Ealing, Hounslow, Hillingdon, Hammersmith & Fulham, and Harrow.

How Much:
Up to £5,000 (start-ups)
Up to £10,000 (existing businesses)
The amount lent is subject to the discretion of the Loan Panel.

• All loans are made to individuals and not Limited Companies.
• Directors of Limited Companies can apply in their personal capacity.

Management Fees:
No interest is payable on your loan but there is a management fee - currently 10% of the total amount you borrow, fixed throughout the duration of the loan.

Terms:
Repayments are made over a maximum period of three years (36 months).
Repayments normally begin one month after the loan is received.

Mentoring:
Successful loan applicants will receive a monthly mentoring service, in the first 12 months of the loan.
Trading records must be made available to Faith in Business staff on request during the term of the loan, as part of a Monitoring Support service.

Networking
Successful loan applicants will be invited to our regular networking events.

At our events, you will have opportunities

• To meet other business owners
• To promote your products/services
• To share and gain knowledge and expertise
• To exchange ideas and experiences with others
• To form strategic alliances