Wandsworth Business Loan Fund

Wandsworth Council has teamed up with Newable (formerly GLE oneLondon) to establish the Wandsworth Business Loan Fund. The 800k loan fund was created with a 400k investment from Wandsworth Council, matched by GLE oneLondon funds. It gives the borough's small and medium-sized (SMEs) businesses a new funding option, despite being turned down by mainstream providers such as banks.

Unsecured loans are on offer of up to £50,000

GLE is a leading provider of alternative finance and has had over 15 years' experience of lending to new and growing businesses in the UK.

The Loan Fund offers:

  • Fixed interest rates between 12% and 16%, depending on the risks involved in lending
  • Free, personalised, impartial support from a finance specialist to help you throughout the entire application process.
  • A three year repayment period
  • 2% arrangement fee
  • There are no early repayment fees. You can pay the loan back at any time without penalties.
  • There's no automated credit scoring - each application is assessed on its own merits

Plus get a free 1:2:1 business review to outline opportunities to develop and grow.

Directors’ guarantees are required for limited companies. Loans may be from more than one source.

Do you need finance to grow your Wandsworth Business?

You can use a Wandsworth Business Loan to strengthen or grow your business.  For example you could use it for:

  • Protecting or safeguarding jobs or recruit new employees
  • Covering the cost of marketing and promoting your business
  • Purchasing stock and equipment
  • Securing business premises

So far dozens of businesses have applied to the fund. One successful applicant, Kimberley Larsen, used her loan to launch RIOT, a platform to match creative talent with clients based in Tooting. 

 Are you eligible for a Wandsworth Business Loan?

  • Is your business based in or relocating to Wandsworth?
  • Have you been trading for more than 12 months?
  • Have you been turned away by commercial lenders?
  • Do you employ less than 100 staff?

Email wandsworthloans@gle.co.uk for a full eligibility checklist.

More information

If you need finance to develop and grow your Wandsworth business contact the team to arrange a meeting with a specialist, discuss your financing requirements and find out how a Wandsworth Business Loan could help your business.

Fnd out more or apply for a Wandsworth Business Loan:

The Wandsworth Business Loan Fund is partly financed through the Regional Growth Fund and London Loan Fund, delivered by GLE oneLondon Ltd (GLE).

The Regional Growth Fund is provided through the Community Development Finance Association

The Wandsworth Business Loan Fund is partly financed through the Regional Growth Fund (provided through the Community Development Finance Association).