Subsidised and Guaranteed Loans

1.2 Your annual turnover must be no more than £5.6 million.

Your business activity and the purpose of the loan may also affect your eligibilty.

1.3 Repayment terms and interest rates depend on the lending institution. You also pay the BERR a premium of two per cent a year on the outstanding balance, payable quarterly by direct debit.

• You will be expected to supply the lender with regular and detailed financial and management information.

1.4 The Small Firms Loan Guarantee is operated by BERR in partnership with a number of private sector financial institutions, including all the clearing banks.

• When you discuss your borrowing requirements with one of these approved lenders, they will advise you whether your business is eligible.