Business Loans: Let’s Do Business Finance
Previously capped at £150k, the higher lending limit will help growing businesses across the East of England to take their next major step – whether that means investing in new equipment, recruiting additional staff, moving into larger premises, increasing stock levels or launching new products and services.
For many businesses, access to timely finance can be the difference between delaying plans and moving forward with confidence.
While the maximum loan amount has increased, Let’s Do Business Finance will continue to offer finance from £500 to £25k through the Start Up Loans programme, while the larger loans of up to £250k are available through the British Business Bank’s Growth Guarantee Scheme.
This broad range of funding ensures that start-ups, early-stage businesses and more established companies can all access the right level of support for their circumstances.
Taking a holistic approach
Over the last year alone, the finance provider has lent £4.2m to businesses across a wide variety of sectors. This includes retail businesses looking to grow their customer base, manufacturers investing in production capacity and machinery, and service-led companies such as beauty, wellness and personal care. Their client diversity reflects the organisation’s commitment to backing strong ideas wherever they are found.
As an accredited lender for the British Business Bank’s Growth Guarantee Scheme, Let’s Do Business Finance is also proud to be a Community Development Finance Institution and Responsible Finance provider. This means the organisation specialises in supporting viable businesses that may struggle to access finance through traditional high street lenders.
Importantly, lending is not based solely on credit scores, historic figures or perceived risk. Instead, funding decisions are given a more personal and holistic approach, looking at the whole picture of each application. That includes understanding the business model, reviewing future plans and recognising the vision, passion and potential behind each business. Taking a relationship-led approach helps ensure promising businesses are not overlooked simply because they do not fit standard lending criteria.
Sean Dennis (pictured), Managing Director of Let’s Do Business Finance, said: “We know that many of the businesses we support have bold and exciting plans for growth. Increasing our maximum loan to £250k allows us to back those bigger ambitions, while still providing smaller loans for start-ups and early-stage businesses.
“Our mission remains the same – to make finance accessible, fair and supportive for businesses that are often underserved by mainstream lenders.”
Businesses interested in exploring the available funding options can find out more, including eligibility criteria and how to apply, by visiting www.letsdobusinessfinance.co.uk.
