Transitional Loan Fund for Yorkshire and the Humber
The Transitional Loan Fund is part of a £4.76 million package announced by Yorkshire Forward in February 2009. Managed by YFM Venture Finance, the Fund will be lending between £50,000 and £250,000 for working capital purposes to companies based in Yorkshire and The Humber.
Please check your eligibility using the guidelines below.
Eligible companies will:
- Be an SME: An SME is a business employing less than 250 employees, with an annual turnover of less than 50m Euros (approx £45m) or have balance sheet net assets of less than 43m Euros (approx £39m). The business cannot be part of a larger group employing more than 250 employees where the group owns at least a 25% share of the business.
- Be operating from a base in the region.
- Have been turned down for finance from a lender.
- Can demonstrate that jobs are at risk and otherwise would be lost.
- Can demonstrate that the business has a sound track record and is viable going forward.
- Can demonstrate that the loan will be used for working capital purposes and that this requirement is a result of the recession.
The Fund can only consider applications from established and historically successful businesses. The fund is unable to provide finance to early stage or pre-start businesses.
Call us on freephone 0800 917 1345 for further details or email info@theyfmtransitionalloanfund.co.uk.
