The East of England Regional Trade Finance Loan Scheme is available to established small and medium enterprises (smes) that have a short term trade funding requirement.
Loan Amount: £50,000 – £250,000
Loan Term: 3 to 12 months
Loan Repayment: tailored repayment arrangements
Security: Debenture. Limited, un-supported personal guarantees may be required depending on risk assessment.
Interest charges and fees: available on application
Location: Company must be based in Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk or Suffolk
To apply to the Loan Scheme the business must:
Working capital for specific new contracts/orders: enabling SMEs to fulfil particular orders or contracts which would otherwise have been unattainable due to the working capital cycles involved (e.g. up-front supplier payments, delivery timescales, client payment terms)
Short term irregular invoicing patterns from specific contracts/projects
Up-front tooling requirements for identifiable medium term contracts or export activity
Cash-backing for performance bonds/guarantees: temporary credit enhancement to enable banks to support SMEs in the tendering and delivery of significant/strategic contracts
