 INVESTING IN SMALL AND MEDIUM SIZED ENTERPRISES IN CORNWALL/ISLES OF SCILLY |
LATEST INVESTMENTS
Finance Cornwall is a £20m venture investment fund targeting small and medium sized enterprises in this region with a range of equity, mezzanine and debt capital. Finance Cornwall can lend or invest from £20,000 to £1 million per business and, to date, has invested £13.7 million in 123 businesses; levering £37 million into the Cornish economy, creating over 300 jobs and safeguarding 1,225. It is part funded by the EU through the Objective One Programme for Cornwall and the Isles of Scilly.
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LATEST NEWS
| 29th May 2008 |
| FINANCE CORNWALL BACKS WASTE DISPOSAL EXPERTS |
Penryn-based AP Waste Handling has secured exclusive UK and Ireland distribution rights for an innovative product which cheaply converts food waste into a nutrient-rich, reusable product.....more >> |
| Archive News >> |
FAQ's
Who are Finance Cornwall? We are a local SME finance company set up in 2002, and based in Truro. We work with businesses in Cornwall and the Isles of Scilly which need finance to start-up, grow, or to accommodate a change of ownership. Our speciality is to fill gaps in funding that the banks and others can’t meet. We provide the missing piece of finance that allows a commercially viable project to move ahead. We work closely with the banks, accountants and other funders.
What sort of funding do you offer? We are able to provide small loans, mezzanine debt and equity funds.
How much does it cost? Finance Cornwall offers to lend or invest on commercial terms suitable for the risk that we are being asked to take.
How much funding can my business apply for? We offer loans from as little as £20,000. The maximum we will invest in a company is £1 million.
What is the application process? First check to see if your business qualifies (Do I Qualify?) and then follow the steps to the application/enquiry form on the website. Or, just call us to talk things through.
What information does Finance Cornwall need? We need to know about you, your business experience and your business. Typically we will need to see a business plan and financial forecasts, although for small loans we may be able to work with much less information. After we have received your application/ enquiry form we will want to meet you to discuss your proposal if we think it is suitable for us.
How does Finance Cornwall work with other finance providers? We work as a gap funder so will always insist on other finance being invested in your business as part of the package that we provide. We do not normally provide more than half the total sum borrowed or invested but may do so in certain cases. Because we are active investors locally we may also be able to identify additional funders.
How quickly does my business have to pay back the money? Finance Cornwall invests for the medium term. Our small loan and mezzanine products are typically repayble over five years and our equity product is typically invested on a four to seven year basis.
How quickly does Finance Cornwall make a decision? It depends on how much money you are asking for and how complex the overall package is. A small loan could be agreed in days if all the information we require is to hand. A larger venture capital investment can take much longer and this depends both on the information received by us and the other parties involved and their needs.
Do I have to be a company, what if I’m a sole trader? We can lend to or invest in suitable sole traders, partnerships or companies.
Does my business have to be based in Cornwall or the Isles of Scilly –
what if my business plans to re-locate here? If you are intending to relocate to Cornwall or the Isles of Scilly within six months of us investing in or lending to your business then we have no problem. Otherwise you need to be located in Cornwall or the Isles of Scilly (Do I Qualify?).
How do I talk any of these issues through with you further? Fill in the application form and send it to us via email or post, or just give us a call on 01872 272288.