To apply to the Loan Scheme the business must:
- be a SME established as a limited company
- have a material part of its operations in the Enterprise M3 area
- have a short term trade funding requirement that may include the following:
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