What is a Business Loan?
First Enterprise provides business loans ranging from £25,001 to £250,000 through several regional funding sources, including the Midlands Engine Investment Fund II (MEIF II), Regional Growth Fund (RGF), and The Community ENABLE Funding (CEF). These partnerships with established financial institutions allow us to offer accessible financing solutions to small businesses across the UK.
Borrow between £25,001 - £250,000
Competitive interest rate
Repay the loan over 1-5 years
No early repayment fees
An arrangement fee of 3.5%
Growth Guarantee Scheme (GGS) support available
Is this loan right for you?
Our Business Loan could be the right solution if:
You’ve struggled to secure funding from banks or online lenders
You need capital to grow, expand, hire staff, or invest in stock and equipment
Your business is operating in the UK and you have the right to work in the UK
However, this loan may not be suitable if:
You need less than £25,001 (Please see our Start Up Loans option)
You’re unable or unwilling to provide a personal guarantee when required
Your business is lending money directly
Still not sure?
How to apply?
Applying for a Business Loan is straightforward.
After you submit your enquiry, you will be paired with an Investment Manager who will assist you in preparing documents like your business plan and cashflow forecast.
1
Submit your enquiry with First Enterprise
If you believe a Business Loan is right for you, or if you are uncertain, please complete the enquiry form on our website below.
2
Work with a dedicated Investment Manager
You'll be assigned an Investment Manager from First Enterprise who will guide you through the whole process, work with you on your application and get it ready for assessment.
3
Submit your application
Once all the requirement documentation is in place, submit the completed application and await a response. Additional information may be requested.
4
Get funded!
If successful, you'll be able to receive the funds. The total time from start to this step is typically between 3 and 8 weeks.
Hear from businesses we’ve funded
The funds have helped us achieve our dream of owning a small business serving fellow creatives. Our Investment Manager at First Enterprise made the daunting process easy to follow and kept us updated every step of the way.
Hannah & Daniel Byrne
Co-Owners
Knit Nottingham
I truly appreciated our Investment Manager taking the time to meet us in person and understand our care model. The loan came at a crucial time, providing much-needed financial relief and allowing us to continue delivering essential care.
Bernadette Charehwa
Managing Director
Woodleigh Healthcare
My business needed extra funding for seasonal plans. Whilst I had started discussions with banks, I wasn’t getting the result we needed. Lenders like First Enterprise are much needed to support the backbone of UK businesses!
Sarah Louise Fairburn
Founder
IMP & MAKER
Thanks to the support from First Enterprise and my Investment Manager, we’ve been able to drive forward our Tri-Dosha recruitment strategy, empowering more women to grow their own wellness businesses.
Sunita Passi
Founder
Tri-Dosha
The support from First Enterprise was amazing, helping to make what might have been a daunting task feel incredibly easy. We are grateful for their help in taking our business to the next level and reaching more people who struggle with clothing.
Matthew & Max Palfrey
Co-Founders
Comfa
First Enterprise and our Investment Manager have provided exceptional support. We wholeheartedly recommend First Enterprise and are deeply appreciative of their crucial role in helping us bring our vision to life.
Sharese Gascogine
Co-Founders
Provis Events
Business Loans Enquiry Form
Frequently asked questions
Getting financial support can be challenging, so we’ve provided clear answers to common questions to guide your decisions.
Banks often have strict lending criteria and may reject businesses that don't meet their requirements. At First Enterprise, we look beyond traditional credit scores and consider the overall viability and potential of your business. We provide personalised support and unsecured loans, making it easier for businesses to access the funding they need.
We support a wide range of sectors, including but not limited to technology, manufacturing, retail & hospitality, professional services, beauty & healthcare and many more. However, there are a few exclusions such as property investment and development, services already covered by local schemes (e.g., education, social welfare), ethically unsound businesses, banks, building societies, insurers and reinsurers, public sector bodies, and state-funded primary and secondary schools.
To be eligible for a business loan, your business must be registered in the UK and demonstrate the ability to repay the loan. We consider the overall viability and potential of your business, not just your current situation. Additionally, businesses must not have any outstanding CCJs or defaults that have not been settled or cannot be explained.
Business loans can be used for various purposes, including business growth, purchasing equipment, refinancing existing debt, and managing working capital. The funds must be used for legitimate business purposes and not for personal use.
Yes, you can use a business loan to start a new business. We provide loans to both new and existing businesses.
The application process is straightforward and typically takes between 3 to 8 weeks from start to receiving the funds. After submitting your application, you will be paired with an Investment Manager who will assist you in preparing the necessary documents.
To apply for a business loan, you need to complete an online application form and provide the necessary documentation, including financial statements, annual accounts, bank statements, and a business plan. Our Investment Managers will guide you through the process and provide personalised support every step of the way.
A personal guarantee is an individual's legal promise to repay credit issued to a business for which they serve as an executive or partner. If the business becomes unable to repay the debt, the individual assumes personal responsibility for the balance. Personal guarantees help businesses get credit when they aren't as established or have an inadequate credit history or assets to qualify on their own.