How long can the payments be spread over?
One to Three years.
How much can I borrow?
Between £2,000 to £5,000.
How do I make repayments?
On the first day of each month, by Standing Order.
Does my business have to be based in Bury?
Yes, only businesses based in the borough of Bury (Prestwich, Whitefield, Radcliffe, Bury, Tottington, Ramsbottom) will be considered.
Does the project have to be creating a new job?
The aim of the scheme is to help businesses succeed, which includes maintaining and creating permanent secure employment, however, this is not a condition of the loan.
Can I use the Loan for refinancing?
No, you cannot.
Do you check credit history of applicants?
All applications will be credit checked. Any outstanding credit judgments will not necessarily render the project ineligible.
Do I have to play the Made in Bury Weekly £2000 Draw to qualify?
All applicants should be contributing members of the Draw and remain so for the duration of any loan granted.
How long will it take to receive the funds if my application is successful?
If the Loan Panel approves your application and all conditions are met, the funds will be available within 48 hours of the agreement being signed.
As a limited company, what financial information is required?
Up to date financial information such as latest filed Accounts are a prerequisite for all Limited Companies.