Loans of between £50,000 and £250,000 will be considered for SME businesses based in the West Midlands who have a viable business plan but are unable to secure finance to progress that plan from normal commercial sources. Applicants must have approached their bank or alternative provider first.
Loans can be agreed for up to a 3 year period and will be priced at a commercial rate of interest usually in a range of 6% to 10% above Barclays Base rate. Any collateral within the company to secure the loan will be taken, the availability of which will influence the interest rate charged. An arrangement fee and a monitoring fee will be charged.
We are required to undertake due diligence to assess the viability of the applicant business and as part of the process an independent accountant, or other appropriately qualified professional, may be commissioned to complete a review of the business plan on our behalf, at the applicant's expense. The cost of the due diligence will vary depending on the level of the work required.
If you wish to progress your enquiry, please give us a call or use the "contact us" tab above to register your interest.
Advantage Transition Bridge Fund limited is jointly financed by Advantage West Midlands and the East Midlands Development Agency.