NI Small Business Loan Fund
Don’t get held back because of access to finance. Loans from £1k to £50k for small businesses in Northern Ireland.
What is the Small Business Loan Fund
The NI Small Business Loan Fund provides loans to individuals, private companies and social enterprises in the micro enterprise and SME size range, within the start-up and growth phases of development.
What are the terms?
- Businesses applying must be substantially based in Northern Ireland and be able to provide evidence of funding refusal from the private banking sector.
- There is a maximum loan amount of £15k to start-up enterprises, with potential for follow-on lending up to a maximum of £50k. Existing businesses can apply for loans of up to £50k.
- Applicants will need to clearly demonstrate their ability to service the loan repayments.
- The loans will typically be unsecured and personal guarantees may be sought.
- Interest rates typically range from 6% – 10% (APR circa 11% – 19%). Further information on interest rates can be obtained from the website or by calling the NISBLF team directly.
- Mentoring support will be offered where loans of less than £15,000 are availed of.
Loan purposes include:
- Working Capital
- Commercial Premises
- Plant and Machinery
- Stock Purchases
The NI Small Business Loan Fund LP is a limited partnership registered in Northern Ireland (No. NL75) and is managed by Ulster Community Investments plc (“UCI”). UCI is authorised and regulated by the Financial Conduct Authority and is licensed by the Office of Fair Trading under the Consumer Credit Act 1974 (No. 652674). UCI is registered in Northern Ireland (company no NI030229) at 13-19 Linenhall Street, Belfast, BT2 8AA.