If you are looking for business loan finance to start or expand your enterprise in the Bristol area you can apply to Bristol Enterprise Development Fund for a loan. If you need to raise more money than the bank can lend we may be able to help. We offer favourable rates of interest for unsecured lending and may provide a business mentor to help you in the first year of the loan

We support viable business proposals in Bristol and the West Country, including South Gloucestershire, Bath & North East Somerset and North Somerset. BEDF is part of South West Business Finance, a partnership of agencies across the region. So if BEDF can’t help we can put you in touch with other lenders

Who we lend to

BEDF lends to all types of people and businesses with a viable business proposition if they cannot raise the required funds from traditional sources such as banks. We consider applications from new and existing businesses:

• You must be 18 years or over and be responsible for running the business
• You will employ less than 25 people
• Your business will be based and operate within the BEDF area and you will probably live in the area too. This covers the whole of Bristol, South Gloucestershire, Bath & North East Somerset and North Somerset. Click here to see the map on the How to apply page
• You must provide written evidence that the business finance you need cannot be sourced elsewhere. Typically this is a letter from the business banking section of a high street bank
• We lend to sole traders, partnerships, limited companies and most other business forms

Exclusions

• BEDF will consider all types of business except religious and political proposals or any business activity which may offend public taste.
• We cannot consider an expansion loan to any business established for less than 12 months or any business unable to produce suitable trading accounts for the previous year

How much can I borrow?

Types of loans

• Start up – you can borrow a maximum of £7,500 over 3 years
• Expansion & Growth – you can borrow a maximum of £15,000 over 3 years
• Fast Track – you can borrow a maximum of £1,500 paid back over 1year to 18 months
• Social Enterprise Research and Development – you can borrow a maximum of £5,000 over 3 years

What it costs

• We charge interest at a favourable rate, linked to the current Bank of England rate
• Interest is fixed at the beginning and for the duration of the loan
• Interest only payments for 3 months except on Fast Track loans
• Currently there is no setup fee or administration charge
• Repayment is by monthly standing order which includes capital and interest
• You can pay back your loan early without excessive penalties

What loans can be used for

• To purchase capital items, tools and equipment
• To provide working capital for start-up businesses
• To buy stock and raw materials
• To secure premises and re-furbish them
• To pay for marketing, advertising and promotion
• For other activities and items essential for the start-up or expansion of the business
• We are reluctant to provide vehicle finance – please check with the Fund Managers

Working with other lenders

• BEDF loans can be offered as part of a total funding package to include bank loans, overdrafts, personal or third party capital, and finance from other loan schemes. We will co-lend with the bank if they cannot offer all you need
• As partners in a group of business loan funds across the South West, we may be able to refer you to other lenders if you need more finance than we can offer