Loans to start or grow your business
Welcome to First Enterprise in association with the British Business Bank’s Finance Finder.
We’re pleased to support you on your access to finance journey - designed to help your business explore potential finance options.
We are First Enterprise, and we support small businesses across the UK, offering loans ranging from £500 to £250,000, tailored to your needs.
If you’d like to explore further, you can learn more about our products and services by using the navigation bar above.
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Disclaimer: The British Business Bank’s Finance Finder and supporting guidance pages are intended to provide general information only. You should always seek independent professional advice before making any financial decisions.
Frequently asked questions
Getting financial support can be challenging, so we’ve provided clear answers to common questions to guide your decisions.
Eligibility criteria vary, but generally, businesses must be registered in the UK and demonstrate the ability to repay the loan. We also consider the overall viability and potential of your business, not just your current situation.
The amount you can borrow depends on factors such as your business size, revenue, credit history, and the type of loan. We offer flexible loan amounts tailored to your specific needs. Our loans start at £500 and go up to £250,000.
Our interest rates are competitive and comparable to those of high street banks, making our loans an attractive option for businesses looking for affordable financing.
Commonly required documents include business registration certificates, financial statements, tax returns, bank statements, and a detailed business plan. We may also request additional information depending on the loan type.
The approval time can vary from a few days to several weeks, depending on the complexity of the application. Our dedicated team works efficiently to process your application as quickly as possible.
Yes, we consider applications from businesses with less-than-perfect credit histories. We focus on the overall viability and potential of your business rather than just the credit score.
If you are unable to repay the loan, it is crucial to communicate with us as soon as possible. We may offer options such as payment holidays and reduced repayments. However, defaulting on a loan can have serious consequences, including damage to your credit score and potential legal action.
We do not secure loans against your family home. However, we may require a personal guarantee from the business owner or directors. In some cases, we may also take a debenture over the business assets.
The use of loan funds may be restricted based on the type of loan and our policies. Common uses include business growth, purchasing equipment, refinancing existing debt, and managing working capital.