Borrowing from
Co-operative & Community Finance
the lender for social purpose
Term, Rates, Loan size and SecurityTerm
There is no set lending term, as far as is possible loans will be tailored to the needs of the business and the capacity to make repayments. The maximum term is usually 10 years.
Interest Rates
Our interest rates are competitive and variable and based upon the individual circumstance of the application. If you are fortunate enough to have a choice of lender, then it is advisable to compare schedules of repayments rather than just relying on quoted interest rates.
Loan Size
Loans from £7,500 to £75,000 are normally available, however from other funds under management we are able to lend up to £150,000. Loans to new businesses are usually part of a larger financial package and not normally more than 50 percent of that package.
However, we have been lending to co-operatives and social enterprises for almost 40 years and during this time have established a number of partnerships with other lenders. If your financial needs exceed what we ourselves can offer, we are in a position to introduce you to other funds.
Security
We do not take personal guarantees on loans, but will seek to secure our lending against the assets of the borrowing organisation where possible. However, your ability to provide security cover is not the main criteria upon which the lending decision is made.
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Wave is a design co-operative based in Hastings, supported by finance from Co-operative & Community Finance.
