Business Loan Overview

       
Business Loans
Introduction:  CWRT provides Business Loans to existing businesses primarily operating in Coventry and Warwickshire. We will consider businesses that are based outside of Coventry and Warwickshire.
Eligibility Criteria:

Businesses that have been unable to raise sufficient, if any funding from their bank.This includes partial rejection when the applicant needs additional funds alongside those provided by other lenders.

Minimum Loan: £1,000 
Maximum Loan: £75,000 
Interest Rate: Up to 18.75% per annum. The rate is based on the level of risk involved and security available.
Arrangement Fee:
  • From 5% of the loan amount
  • This can be added to the loan
Minimum Term: 6 months 
Maximum Term: 5 years (typically 2 or 3 years is preferred).
Loan Conditions: As part of our assessment we are required to conduct full credit searches on all Sole traders, Partners and Directors of the business. CWRT uses CreditSafe when carrying out our credit searches. Other agencies offer free credit checks (see list below) but results may vary because of the different criteria used by each agency.You can obtain your credit report from the following:

Other loan conditions may include:

  • Personal/Third Party Guarantees
  • Debentures
  • Charge on equipment
  • Charge on property 
Repayment Schedule: Flexible including:
  • Capital/interest repaid monthly (usual terms).
  • Interest only repaid monthly, “bullet” capital repayment at contract end.
  • Payment holidays/deferred repayments.
  • No penalties for early repayment.
Charges for Early Repayment: None. 

Examples of monthly repayments:

Interest Rate (fixed)

Fee

Total Amount of Credit

Representative APR

Duration

Total Amount Payable (including fee)

Monthly Repayments

9.75%

£1,250.00

£25,000

15.70%

24months

£28,999.44

£1.208.31

13.75%

£1,250.00

£25,000

18.64%

36months

£32,183.28

£893.98

18.75%

£1,250.00

£25,000

23.80%

48months

£37,509.12

£781.44

All loans are subject to an arrangement fee from 5% of the amount borrowed. Security and monitoring fees may also be payable.

Interested in knowing more then  Register for a Business Loan or Get in Touch