Finance East provides an alternative source of loan finance to support high-growth businesses based in Essex, Suffolk, Norfolk, Cambridgeshire, Bedfordshire, Hertfordshire.

As fund manager for the East of England Regional Growth Loan Scheme, Finance East offers loan finance to established SMEs seeking to implement growth strategies.

Since establishment in 2009, it has supported over 100 companies through the Regional Growth Loan Scheme, agreeing more than £13m of loans and leveraging a further £27m of other finance into growth orientated SMEs. Companies supported have created nearly 450 new jobs in the region.

The Regional Growth Loan Scheme is funded by HM Government via the Department for Business, Innovation and Skills and is available to established incorporated businesses based within the East of England  that have a minimum annual turnover of £100k, show strong growth potential and have a medium to long-term funding requirements to deliver that growth.

Eligibility

SMEs applying to the East of England Regional Growth Loan Scheme must have the following:

  • a clear business strategy that credibly delivers significant growth
  • a proposition that addresses product markets which are likely to grow strongly in the medium term
  • a business plan demonstrating:
  • a viable product or service
  • a ready market
  • competitive advantage
  • a management team with relevant background
  • the right to exploit intellectual property rights where necessary

Exclusions

The following sectors are excluded:

  • land and property development, dealing and investment
  • financial services
  • accountancy and legal services
  • hotels
  • nursing and residential care homes
  • international motor transport
  • agriculture
  • forestry and timber production
  • horticulture

To apply to the East of England Regional Growth Loan Scheme, or for more information, click the link in the right hand side of this page.

Loans of £50,000 to £200,000

Interest Rate of 5 – 9% above base rate

Loan Term: 2 yrs to 5 yrs

Turnover: Typically minimum £100,000 pa