Eden & South Lakeland credit union offers loans of up to £7,000 to small businesses, clubs and organisations. This could be a bridging loan to help cover your costs before a grant is received, or it could be a loan to a small business that can be repaid out of sales.
The interest rate will be between 0.75% and 1.5% per month depending on circumstances (between 9.38% and 19.6% APR).
The organisation must become a member of the credit union by completing the corporate membership form and providing an initial savings deposit of at least £5. (£2 of this is a non-refundable one-off membership fee.)
If you would like more details, please contact us on 01768 890065. We will provide illustrative repayments and interest rates when you provide us with details of the requested loan.