Business Loans

Through the credit union, we have been lending to businesses for many years. In 2009, with help from the London Development Agency, we introduced a new source of finance for small firms, the North London Enterprise Fund. Through this we can help both established businesses and those setting up a new business, provided that the enterprise is or will be based in one of the London boroughs.

Most types of businesses are eligible, providing they can demonstrate to our lending panel that they are soundly based, and will be able to afford to repay any loan made.

We can lend up to £10,000 for business start-ups, and up to £25,000 for businesses that can produce certified accounts for at least one year’s trading.

Interest rates will be quoted if we decide we can offer finance, but will usually be in the region on 1% a month (12.68% APR). Some additional fees may be payable.

For full details of business loans please click here.

For an application form please click here.

If you do not have a business plan and wish to give us further information on your business you can access a form to do this by clicking here.

For details of how you can get help to write a business plan (which we will usually require) please contact us.

In common with other financial institutions and like North London Credit Union, we are required by law to establish the identity and address of new borrowers. For further information, please click here.