Economic Recovery Loan Fund
The Economic Recovery Loan Fund, to help businesses survive the recession and prepare for the future.
Launched on Friday 12 June 2009, the scheme will provide established businesses with loan funds of £10,000 to £50,000.
The scheme, which is part of Action 4 of the Mayor of London's Economic Recovery Action Plan, is available for any business that:
- has a viable business plan and is able to show that it can afford to repay the loan
- has less than 250 employees or annual sales of less than £45 million (Businesses dealing in land commodities or securities are excluded, as are most businesses providing financial services)
- is a sole trader, partnership, limited company, social enterprise or charity
- is based in London
- has been trading for at least 12 months
- needs a loan to help protect existing jobs or create new ones
See the link for more details - http://www.gle.co.uk/news/stories.php?id=139
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