What is an NPIF micro loan?
Eligibility and exclusions
Benefits and scenarios
Things you can use to secure the finance
Is an NPIF micro loan a good fit for you?
Backed by the government through the British Business Bank,
NPIF microfinance aims to help entrepreneurs, early-stage
businesses and more established SMEs access finance.
It provides loans from £25,000 to £100,000 in partnership with
dedicated fund managers across the North of England.
Any start-up, early stage or established business
looking to grow but struggling to find funding can
get access to NPIF microfinance.
You can usually access this type of funding if you
have previously been declined by traditional lenders
previously, such as banks.
Funding Purpose must be for Growth of the Business.
Refinance is not permitted.
With NPIF microfinance, you may be asked to provide
a personal guarantee to get a loan, which means you
will be personally liable for its repayment.
The lender may also wish the business to pledge
business assets in support of the borrowing. This
is achieved by an instrument known as a debenture.
This is a fixed and floating charge over its general
assets by the business in favour of the lender.
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