Our loan application process consists of four quick, simple and supportive steps, meaning you can continue to focus on your business.
Loan Process
Our four-step loan process is managed by humans so you can be assured your application is carefully considered and not seen as just a number.
1
Step 1
Submit an online enquiry via our contact us page
2
Step 2
Your application form will be reviewed by our dedicated information officer and you will receive an initial eligibility response within 2 days.
Please note that we are currently experiencing a high volume of applications due to the COVID-19 pandemic but we will do our best to respond to you within this timeframe.
3
Step 3
If your business is eligible, you will be assigned a dedicated business adviser who will support you throughout your loan application to ensure your application contains all the required documents and your business meets all the necessary criteria for a successful application*.
Due to the social distancing measures currently in place, face-to-face meetings are postponed and our business advisers will virtually support you via telephone, email or web chats until further notice.
*Please note this does not guarantee a successful loan application.
4
Step 4
Successful applicants can expect their loan application and approval process to take an average of 3-6 weeks with loan funds being deposited into your bank account within 2-3 days for Start Up Loans and within 1-2 weeks for other loan funds.
New Business Mentoring
We understand that starting a new business can be daunting and you may need some guidance as you’re navigating your way in the world of business. If you are a new business and your start-up loan* application has been approved, your dedicated business adviser can support you by providing mentoring for up to 12 months, ensuring you and your business are supported during your first year of trading.
*For start-up loan eligibility purposes, new businesses are classified as businesses trading for less than 2 years.
More in this Section
Business Loans
We have a range of loans available to help start ups and exisiting businesses that are looking for finance to grow.
Start-Up Loans
Proudly supporting new businesses. We are an official delivery partner for the Start Up Loans Company.
Recovery Loan Scheme
First Enterprise - Enterprise Loans is proud to be a delivery partner for the Recovery Loan Scheme (RLS) – supporting businesses across the East Midlands and Southeast Midlands with loans ranging from £25,001 – £250,000.
Business Growth
Proudly providing business growth loans up to £250,000 to help you grow your business.
Midlands Engine Investment Fund
The Midlands Engine Investment Fund is a collaboration between The British Business Bank and 10 Local Enterprise Partnerships (LEPS) across the Midlands.
Community Investment Enterprise Facility
Proudly supporting charities and social enterprises with business loans and enterprise in the UK.
Success Stories
At First Enterprise we really pride ourselves in helping businesses grow. Here are a few case studies of businesses that we have helped over the years.
Mike's Top Tips for a Swift Loan Approval
Read Mike's ten top tips to ensure your loan application progresses through the loan application process as swiftly as possible.
