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Helier, Jersey, JE2 3rdQA. 1994, The Protection of Investors (Bailiwick of Guernsey) Law, 1987 (as amended) and The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002 (as amended), and is also incorporated with the Guernsey Financial Services Commission as a financial institution.
by Lloyds Investment Fund Managers Limited. Eleven-12 Esplanade, St. Helier, Jersey, JE2 ThreeQA. Approved by the Jersey Financial Services Commission under the Collective Investment Funds (Jersey) Law 1988.
How much is a start-up loan?
Does a start-up loan qualify as a subsidy? NO. A subsidy is a non-repayable endowment provided by an individuals or organisations for a specific use, while a start-up loan must be fully reimbursed over an agreed period of one to five years. Part of your request is to conduct a loan review to review your past and present fiscal behavior.
Individual affordability: Beginning credits are personal credits used for commercial purpose, so you are responsible for paying back your loan even if your commercial plan changes in the near term. Profitability of the company: An important part of our credit decisions is to ensure that your company will earn enough cash to help you fulfill your credit payments on a per month basis.
In order to be able to assess this, you must therefore prove that there is adequate market for your products and/or services and that you can adequately meet all the objectives defined in your business plan and cash flow forecast. Take a look at our free guidelines and guidelines and remember that your Business Adviser can help you with this part of the application as well.
There are no charges for requesting or obtaining a Start-up Loan and no charges for the assistance we give during and after the request procedure. Apart from your montly loan repayment, you will never be asked for charges or other payment. Is it possible to select my credit period?
Yes, you can select a repayment period between one and five years, according to your budget and preferences. If you are in the UK with a UK visas, please be aware that you must pay back your loan and any related interest at least six month before your visas expire.
Irrespective of your definitively contracted credit period, you are obliged to make repayment on a regular basis. You can use our credit calculator to find out what your prospective loan repayment per month and per annum would be on different credit conditions. Starting Up is a personal loan used to set up a new company or an established company that has been traded for less than 24 month.
The loan can be used for a variety of things related to your company, such as inventory and fixtures, office space, advertising and so on. However, it is important to keep in mind that you need to be able to describe your intention for your loan as part of your overall IBP and your CBP projections and how this will help you launch and/or expand your company.
A few limited operations cannot be financed with a start-up loan, among them loan repayments, skills and educational programs, or capital expenditure options that are not part of a sustainability enterprise. For more information on the foreclosed transaction classes and credit uses within the system, please refer to our full admission requirements.
What is the number of Start-up Credits I can request under the programme? Individuals can only request one start-up loan for a company, so if you own several companies, you can only get funding for one of them. They would have to go through a new claim procedure and have made full loan repayment for at least six month before submitting their claim.
Furthermore, your entire loan amount cannot simultaneously over £25,000.