BUSINESS LOANS
Sirius offers a range of Business Loans for both Start-Up and Growth. A Sirius Business Advisor can help you to find the right one for your project.
‘Sirius is authorised & regulated by The Financial Conduct Authority’
SIRIUS BUSINESS LOAN ELIGIBILITY
Start-Up and Business Growth - All sectors considered
Loans from £500 - £50,000.
Up to 5 Year Term
Credit Check Undertaken
Typical interest rates 10 – 14% flat.
Personal Guarantee of Full Repayment required
Documentation Required: Detailed Business plan, application form, Utility Bill, Bank Statement, CV, Photo ID. Attendance of a Lending Panel
Whyte Knight Fund Eligibility
Business must be in York City Council area
Start-Up and Business Growth - All sectors considered
Loans from £500 - £10,000.
Up to 5 Year Term
Credit Check Undertaken
Typical interest rates 6 – 12% flat.
Personal Guarantee of Full Repayment required
Documentation Required: Detailed Business plan, application form, Utility Bill, Bank Statement, CV, Photo ID. Attendance of a Lending Panel
Why not see if Sirius can help you with funding & support?
KC INVEST LOAN ELIGIBILITY
Start-Up and Business Growth
Media or Technology Sectors only
Loans from £500 - £5,000.
Up to 3 Year Term
Credit Check Undertaken
Typical interest rates 10 – 12% flat.
Personal Guarantee of Full Repayment required
Documentation Required: Detailed Business plan, application form, Utility Bill, Bank Statement, CV, Photo ID. Attendance of a Lending Panel.
START UP LOAN ELIGIBILITY
Start-Up and Businesses less than 2 year old
All Sectors Considered
A Start Up Loan is a personal loan for business purposes, to help entrepreneurs start up their ventures. Anyone , the age of 18 and above at the time of registration and living in the UK, is eligible to apply for a loan, provided they have a acceptable business idea and want to use the loan monies for setting up their own business. You may have already started your business, but you cannot have been trading for more than 12 months. You must have the legal right to remain in the UK for the duration of your loan term and the right to be self-employed. Every loan application is considered according to the needs of your business, with an average loan size of around £6,000. The final loan size will be determined by your business plan.
Only one Start Up Loan can be granted per person, however more than one person in a company can be eligible for a loan. You are required to pay back the loan within 1-5 years, however the exact term of the loan will be agreed with your Business Advisor as part of your application process.
Loans from £500 - £25,000
Credit Check Undertaken, Interest rate 6%.
Documentation Required: Detailed Business plan, application form, Utility Bill, Bank Statement, CV, Photo ID.
Amazon Lending
- Application is by invitation to Amazon Sellers only. Application is online via Seller Central, usually to existing Sellers. Repayments are taken from Amazon sales income in the future, although wire transfers can be arranged.
- Amounts are pre-approved and based on existing sales profile/turnover through Amazon.
- No security in most cases although personal guarantees may be required in unusual circumstances and will be shown on the application form.
- Use of funds is not laid down, so could be for stock, equipment, advertising, raw materials, etc.
- Interest rate varies dependent on invitation letter but are usually around 10%.
- Amazon UK lends only to UK based businesses, but other countries have Amazon Lending programmes. There must be a separate business entity in that country.
- Term loans --- NOT invoice discounting.
- Other products are under investigation, e.g. small business credit card, purchase funding, etc.
- No business plan is required. It is pre-approved and based upon your business history and turnover.