Loan Terms and Conditions

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The loan fund

The objective is to provide "soft" loan assistance to businesses seeking to consolidate or grow within Pembrokeshire, particularly those businesses which are, or have, the opportunity of drawing in resources from outside the area or to provide services not presently available locally; thus consolidating and creating permanent secure employment within the area and contributing to the increase of skill and educational levels within the County.

Details of loan

Interest - No interest is charged.

Administration Fee - 25 up to £10k and £50 over £10k (non refundable) payable upon submission of the application. Further charge of between 25 and 350 payable upon signature of loan agreement (1% of loan amount administration fee).

Term - 2 - 5 years

Size - 2,000 - 35,000 or to a maximum of 35% of the capital required by the identified project - whichever is the lesser.

Repayment - On the first day monthly, by standing order.

Security - Where possible, appropriate security may be sought and/or personal guarantees.

Job Factor - Loans up to 10,000 - A minimum of one job created or two jobs retained Loans greater than 10,000 - A minimum of two jobs created or four jobs retained.

Eligibility

Application process

Application forms should be completed in full and returned, together with any necessary, required information and a cheque for 25 or £50, to:

Pembrokeshire Lottery,
Suite 16 Cedar Court,
Havens Head Business Park,
Milford Haven,
Pembrokeshire SA73 3LS

Offer and Payment

Monitoring

Publicity

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