The East of England Regional Growth Loan Scheme is a loan scheme aimed at filling the gap between traditional debt and equity funding. It can be a stand-alone funding source, but is complementary to other sources of finance e.g. traditional bank borrowing, including the Enterprise Finance Guarantee scheme and equity. The scheme is effective in unlocking other forms of finance and in many of the deals agreed it has formed part of a larger finance package.  The scheme is administered by Finance East.

Who is it for?

To support established companies with the potential for significant growth who are based within the counties of Essex, Suffolk, Norfolk, Cambridgeshire, Bedfordshire and Hertfordshire.

What is meant by growth potential?

Loans will be made available to those companies able to meet the following criteria:

  • A clear business strategy
  • Capable of significant growth
  • Provide a business plan demonstrating
    – a viable product or service
    – a ready market
    – a management team with relevant background
    – Intellectual Property rights
    – evidence of a strong commitment to the enterprise from the proprietors
  • Able to demonstrate competitive advantage, probably in niche markets

What are the key terms?

  • Businesses may borrow between £50,000 and £200,000 by way of loan facility
  • Interest is agreed on a case by case basis reflecting the level of risk (between 5 – 9% above base rate)
  • Repayment is over 2 to 5 years (a capital repayment holiday can be considered)
  • Security is subject to risk assessment and in most cases will be subordinate to the security of any other lenders
  • Fees:
    • Arrangement fee 2%
    • Annual monitoring fee 1%
    • Legal costs £500 fixed fee

How do I apply?

Applications should be made direct to Finance East. Please click on the link in the right hand corner of this page to find out more.

What is the application process?

Finance East will discuss your requirements and make an initial assessment at the point of contact. Should you meet the criteria you will be invited to submit a full application form and business plan. Subject to assessment, if you are successful in securing a loan the funds should be available to you within 4 to 6 weeks of the date the original application was received.


The loan facility is not available to businesses seeking to refinance existing financial arrangements or to address long outstanding creditor positions, including HMRC.

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

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