Purpose: To assist viable businesses which were facing difficulty in raising finance from normal sources, as a result of the restrictions in the conventional credit market.
Amount: Minimum £50,000, maximum £250,000.
Term: Flexible, over periods of up to three years.
Interest Rate: Variable, but reflected the nature of the risk undertaken.
Fees: An arrangement fee and monitoring fees was payable.
Security: A charge on the assets of the business, and/or a charge on any assets purchased with the loan, was generally taken.
Availability: Only in circumstances where conventional lending sources were unavailable or were already fully committed. Loans could not be used to repay or reduce existing borrowings.