This is the same type of funding I used previously when I first started with GenieHomeSwap. They were called Impetus Marches and still help me today (Thank God!)
They predominantly finance loans which are at a low interest rate, so not scary at all. They will also ask what you can afford to comfortable pay back with out affecting your standards of living
They are sustainable, independent organisations established to develop and create wealth in disadvantaged communities or markets. They provide capital and support to individual enterprises and small ventures. The loan can be used to purchase equipment, property, to finance working or working or start capital. They will provide funds for marketing too.
Loans can be as little as £50 up to £1,000,000 depending on the project
Many Community Cash development funds only lend cash in certain areas. Before you apply makes sure you have a comprehensive business plan like I had. Pay particular detail on how you are going to spend the money CDFI’S are very interested in this part.
I would strongly recommend this type of funding from personal experience they are reliable support that doesn’t end when you set up the Direct Debit. As long as your passionate about what you’re doing then they will see that. These organisations love initiatives and drive………….
Good Luck x
What Types Of Business Do They Cover
- Sole trader
- Private company
- Public limited company
- Social enterprise