Loans up to £5 million to help the UK's fastest growing entrepreneurial small and medium-sized enterprises to accelerate their operations. Selected businesses will receive funding and financial advice, as well as the chance to visit successful companies and learn from leading entrepreneurs.
The loans are to be used to fund capital projects that will aid growth and development of growth businesses.
Santander is also making £100 million available to SME house builders through a combination of senior and mezzanine debt finance, providing the funds to help support business investment and job creation in this sector.
Match funding is not required.
Applicant SMEs should meet the following criteria:
- Businesses seeking to take advantage of the funding should have in place a strong team with sufficient experience to deliver on their growth plans.
- A fully prepared business plan isn’t necessarily required, at least in the initial stages of the application.
- The business must have demonstrated strong growth in turnover, profitability or employment over the past three years.
- Companies must demonstrate strong annual growth of around 20% in any combination of turnover, profitability and employment, and
- To qualify for the programme companies will need to demonstrate that their management team has the skill and experience to deliver on workable and ambitious growth plans.
Interested parties are advised to liaise with their local Santander relationship manager. Details should be available at your local Santander branch.
Following this stage, Santander will then visit the company, spend time with managers and work towards presenting a compelling case for investment to the Santander Committee.