The East of England Regional Trade Finance Loan Scheme is available to established SME businesses that have a short term trade funding requirement that does not meet traditional trade finance support schemes.

Who is it for?

To support established SME companies with the potential for significant growth based on new / large contracts (either domestic or overseas), who are based within the counties of Essex, Suffolk, Norfolk, Cambridgeshire, Bedfordshire and Hertfordshire.

Eligibility

To apply for assistance under the Trade Finance Loan Scheme the business must:

  • Be an SME established as a limited company
  • Have a material part of its operations in the counties detailed above
  • Have a short term trade funding requirement (see here for further parameters)
  • In all cases, the contract should involve a significant element of UK “added value” – i.e. a pure “import of finished goods and distribution” contract would not be eligible.

Key Features and Terms

  • Businesses may borrow between £50,000 and £200,000 by way of loan facility
  • Loan Term: 3 to 12 months
  • Loan Repayment: tailored repayment arrangements
  • Security: Debenture. Limited, un-supported personal guarantees may be required depending on risk assessment
  • Interest charges and fees: subject to risk assessment, interest will be charged on a monthly basis normally at a rate of 1% per month
  • Fees:
    • Arrangement fee 2%
    • Exit fee 2%
    • Legal costs £500 fixed fee

Exclusions

The following sectors are excluded:

  • Land and property development, dealing and investment
  • Provision of debt and equity finance and financial services in general
  • Accountants and legal services
  • Hotels
  • Nursing and residential care homes
  • International motor transport
  • Agriculture
  • Forestry and timber production
  • Horticulture

How to apply

For further information and application form, please see the contact information box in the top right hand corner of this page.