Subsidised and Guaranteed Loans

4. Local Schemes

Most of the UK's larger cities have schemes which provide loans.

4.1 These schemes generally offer small loans of up to £10,000, although there are exceptions.

4.2 There are no national criteria for qualification. Priorities are decided locally.

For example:

• The Bolton Loan Fund is designed to encourage start-up and expanding businesses in the Bolton Metropolitan Borough area through loans of up to £10,000 for start-ups and businesses in their first year of trading. For businesses trading for 12 months and over, the loan amount increases to up to £30,000 (01204 391400; www.bbvonline.net).
• Glasgow City Council (0141 287 7251; www.glasgow.gov.uk/en/Business/Businesssupport/Advice_Finance/) can provide loans of up to £30,000 for new start businesses and £50,000 for existing businesses within the city's boundaries.
• The Enterprise Northern Ireland Loan Fund (www.enterpriseni.com) offers loans of up to £25,000 to start-up and existing businesses located or intending to locate in any of the 26 District Council areas of Northern Ireland.

4.3 A typical loan

4.4 These loan schemes will also cover overhead costs such as new marketing initiatives.