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Applications must be made on an Arrow formal application form.
In order to qualify you must be unable to obtain either all or part of the finance required from a bank.
The application must include the following information according to the type of business.
Sole Trader or Partnership
- Business Plan.
- Personal references.
- Cashflow projections for the next twelve months.
- A personal credit search.
- Trading Accounts for the last two years for existing businesses.
- Six months' bank statements for business/personal accounts.
Limited Company (new or existing)
- Business Plan.
- Cashflow projections for the next twelve months.
- Certificate of Incorporation.
- Audited accounts for the past two years for existing businesses.
- Bank statements for the past six months.
- Details of all bank accounts in the company name.
- Full names and addresses of all Directors.
- Personal references.
- The personal guarantees of the director(s) of limited companies are required for the amount of the loan.
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Eligibility
Loans are available to Sole Traders, Partnerships, Limited Companies, and Social Enterprise organisations.
Most sectors will be considered, however there are a few exclusions:
Retail is excluded.
Clubs, public houses, bars, betting and gaming establishments or activities involving politics, religion, pornography or clairvoyance.
Any business that Arrow deems unsuitable for public support.
Any business which is illegal.
The Arrow Small Business Finance scheme operates in conjunction with Lloyds TSB bank. Existing businesses will be required to open a business bank account with Lloyds TSB, if a loan is agreed. Start-up businesses will be offered business banking facilities at Lloyds TSB once a loan has been approved. All loans are subject to satisfying banks' standard account opening criteria. |
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