Our Small Loan Fund provided unsecured loans from £10,000 to £100,000 but is now closed to new applicants.
Criteria
- For Businesses Which are Trading and Generating Revenues
- Must Be Able to Make Fixed Monthly Payments
- Funding to Assist Business Development and Growth
Don't fit within the criteria?
View all fundsOur Small Loan Fund is now closed to new applicants. Between April 2018 and April 2024, it lent over £10m to 209 companies from across the North East, operating in multiple sectors including manufacturing, engineering, information technologies, retail and services. The finance provided has helped these companies to create more than 540 new jobs so far. More new jobs will be created as the companies continue to grow.
The Small Loan Fund is managed by NEL Fund Managers, which continues to work with the fund’s portfolio of companies, collecting repayments and providing guidance and support to borrowers when required. Please see the “Companies that we’ve backed” section, below, for a selection of case studies which showcase some of the businesses which have received support from the fund.
NEL has invested in over 1,000 North East businesses since 1989 and is now able to provide loans of between £25,000 to £100,000 from the British Business Bank’s Northern Powerhouse Investment Fund. Please see NEL’s website for further details.
The investment process
01.
If you already have a business plan, share it with NEL. If you do not yet have a business plan, you can submit an enquiry to NEL and they will provide you with a template.
02.
Before and/or after providing the plan, NEL will meet with you to find out more about your business and plans and to explain the terms on which a loan could be made.
03.
If the loan terms are agreed in principle, NEL will then undertake due diligence on your company and on the information you provide, to verify that your company will be able to make repayments. The loan is provided following signature of legal agreements.
Interested in applying?
Check your company’s eligibility and suitability for other funds by phone or email with North East Fund. Discuss your product, future plans and funding requirements to check whether you should prepare and submit an application for investment.
Contact NEL Fund Managers:
E: enquiries@nel.co.uk
T: 03453697007
www.nel.co.uk
