funding for business event - 21/11/13
TRANSCRIPT
eastdunbarton.gov.uk/business
Santander Corporate & Commercial – Scotland Team
Bank Ready Seminar
Introduction
Agenda
Key Elements of Lending
Information Requirements
Question & Answer
Alternative Sources of Finance
Key Elements of Lending
Amount of Funding
Ability to Repay
Purpose of Funding
Security
Repayment Terms
Your Business
Your Business
What do you do?
Who do you do it for?
Ownership
How and where do you do it?
Who helps you do it?
Who else does what you do?
Management
Why do you do it?
The Funding
How much are you looking for?
Why are you looking for funds?
Is it enough?
Repaying the Funds
Interest
Capital Repayments
Profile v Term
Security
Standard Security
Bond & Floating Charge
Personal Guarantee
Information Requirements
Financials
Property Valuation
’Know your Customer’
Alternative Sources of Finance
Another Bank
Equity
Grant Funding & Government Schemes
Angel Investors
Your Customers Friends and Family
Question & Answer
Malcolm McSporranDeputy Regional DirectorTel: 0141 275 2503Email: [email protected]
David Gallacher Relationship Director EdinburghTel: 07718 121 219Email:[email protected]
Contact us
Douglas Dunlop Relationship Director GlasgowTel: 0141 275 2627 / 07803 377181Email: [email protected]
Jennifer Moultrie Relationship Director AberdeenTel: 07903 816703Email:[email protected]
The information and opinions in this document have been compiled by Santander Corporate Banking in good faith from sources believed to be reliable. The information and opinions contained in this document are published for the assistance of the recipients but they should not be relied upon as authoritative or definitive and should not be taken into account in the exercise of judgements by any recipient. Distribution of this document does not oblige us to enter into any transaction. Any offer would be made at a later date and is subject to assessment, contract, satisfactory documentation and market conditions. Nothing in this document constitutes investment, legal, tax or accounting advice and we recommend you do not make a decision based on this information without first taking the appropriate advice. This document is intended for the recipient only, should not be disclosed to retail clients, and should not be distributed to others or replicated without the consent of Santander Corporate Banking.
Santander Corporate Banking is the brand name of Santander UK plc, Abbey National Treasury Services plc (which also uses the brand name Santander Global Banking and Markets) and Santander Asset Finance plc, all (with the exception of Santander Asset Finance plc) authorised and regulated by the Financial Services Authority, except in respect of consumer credit products which are regulated by the Office of Fair Trading. FSA registration numbers: 106054 and 146003 respectively. In Jersey, Santander UK plc is regulated by the Jersey Financial Services Commission to carry on deposit-taking business under the Banking Business (Jersey) Law 1991. Registered office: 2 Triton Square, Regent’s Place, London NW1 3AN. Company numbers: 2294747, 2338548 and 1533123 respectively. Registered in England. Santander and the flame logo are registered trademarks.
Important legal information
East Dunbartonshire
Funding for Business Event
21st November 2013
Who are we?
Public sector loan fund
Owned by 12 local authorities
“Not for Profit” company
Economic development remit
What do we do?
We provide ‘match’ funding tonew & growing businesses!
Support circa 80 businesses p.a.
Lend circa £2 million p.a.
Current advertising message….
Economic development objectives....
Job creation / safeguarding
Business start up
Business growth
Gap funding – lack of security / track
record
Complementary to the private sector
Key criteria....
• New & growing businesses
• Loans up to £100,000
• Must be part of a funding package
• Interest rate fixed at 5%
• Up to 7 years repayment
Key criteria....
Capital expenditure / working capital /commercial property / property improvements
Right reserved to take security as appropriate
Capital holidays
Circa £2.5m available for investment p.a.
No fees
Who’s eligible?
New, small and medium sized businesses
Located in west of Scotland
(in one of the 12 local authority areas)
Manufacturing, service to manufacturing
and a wide range of service based businesses
Businesses operating either as a sole-trader,
partnership, limited liability partnership, limited
company or social enterprise
Decision Making Process....
Early discussion is RECOMMENDED!!
Approach East Dunbartonshire Council
Application form & business plan
At least 2 years financial projections
Visit by adviser
Appraisal / due diligence
Recommendation
Timescale / Legals *
Decision is made at local level **
What’s in it for you?
The opportunity to access
affordable finance necessary to
complete your funding
package…........
and start or grow your business!
Contacts:
Fraser Robb East Dunbartonshire Council 0141 578 8621
Mark McClymontWSLF 01563 554555
Andrew DicksonWSLF 01563 554851
Apply online at www.wslf.co.uk/apply-online.aspx
DSL Business Finance:What’s available and How to apply?
Sandra McLeanDSL Fund Manager
DSL Business Finance
• We provide access to finance to SME’s that cannot source all or part of the funds that they require, to start or grow their business, from Banks or other commercial sources.
• Aim is to allow business to start, strengthen and grow
Loan Information
• Loans of up to £50,000• Term of up to 60 months• Additional loans available
Criteria
• Can assist any type of business• Funding can be used for any purpose
except refinancing of existing debt, or research and development
Flexible Repayments
• No penalties for early repayment• Possibility for assistance for cashflow
difficulties/seasonality
Enterprise Finance Guarantee Scheme (EFG)
• £1k to £1M• Viable but not enough security for loan• Guarantee to lender not borrower• Most businesses sectors eligible• 2% fee on loan balance quarterly
Application Procedure
• Completed Application Pack will include– Up to date Business Plan with relevant financials– Application Form– Personal Credit Report– 3 Months personal bank statements/3 Months
business bank statements– One point of contact through the whole process
Decision Making
• Applications are presented to an independent panel for investment decision so providing a personal approach
• From submission of fully completed documents, decisions can be made within 4-6 weeks, shorter timescales are possible
What We Look For In A Proposal
• Realistic Sales Projections• Realistic Financials• Experience in Sector• Good Credit History• Manageable Debts (personal & business)
Post Loan Support
• Aftercare visits from DSL Staff Member.• Consultancy support if required funded by
DSL
What Our Clients Say
• “DSL is business with a human face”• “They are absolutely amazing; an ally,
supportive of women getting into business”• “Process was proactive and supportive”
Contact Details
• For further information please contact– Sandra McLean (Fund Manager)– [email protected]– 0141 425 2930– www.dsl-businessfinance.co.uk
eastdunbarton.gov.uk/business