Are you currently repaying all your existing debts?
Are you prepared to give personal references?
Are you able to provide photographic ID i.e passport or driving licence?
Are you aware of the upfront fee, which is a minimum of £500?
Have you read the Eligibility Terms below?
If the answer is YES to all of the above you can start the process for applying for a loan today.
Stop Press - Change in Eligibility Criteria
After a successful year providing loans to new and existing businesses, funds have been exhausted in some areas. Therefore from October 1st funding will only be available to those living in the following areas:
Bristol and Bath and North Somerset
Any applications received before September 30th will be processed. We hope to resume funding coverage for the whole of England and Wales early next year.
To start the application process
Please read the eligibility terms below and then click REGISTER. You will receive a confirmation email once your registration is complete.
Completing the application process
Once you have registered and received your confirmation email, you can log in to your account and complete the application by clicking LOG IN below.
If you are approved we will require two character references from individuals (not family members). They must have known you for at least 5 years.
You can apply for a loan if you are a U.K. resident living in England or Wales. Unfortunately we do not currently offer funding in Ireland or Scotland.
When making a lending decision we will take into account your credit history and may not lend if:
You have any debts or defaults which are not being repaid.
You have incurred a CCJ in the last 6 months or if you have any CCJ’s that are not in a payment plan.
You are in an IVA or DRO.
If you are a bankrupt or have been discharged for less than 2 years.
If you have poor credit and are unsure about your eligibility to apply then please call 01276 472722.
You can obtain a statutory credit report from either Experian https://www.experian.co.uk/consumer/statutory-report.html or Equifax https://www.equifax.co.uk/Products/credit/statutory-report.html
You will be required to provide 6 months bank statements, your credit report, as well as other information about yourself and your business proposal. You can save and leave this at any time and come back to it later. Once you have completed and submitted your application it will be assessed.
Your business can be at any stage. For start-up businesses we offer loans from £2,500 to £10,000. For established businesses with a financial track record of at least 2 years the maximum loan is £35,000.
If you are applying for funds for a training course, a franchise operation, or debt collection please contact us before you register.
Fredericks will consider your application for a loan and business support if you can demonstrate that you have made a genuine application for funds to your bank or a mainstream lender – and that you have been turned down.
If your application is successful an administration fee is added to the loan, which is paid upfront.
If you are approached by a third party for a fee in connection with your loan application please let us know immediately.
All decisions will be final and are not open to appeal. Our policy is not to enter into correspondence regarding a decision to decline an application. If declined, you may re-apply for funding 6 months from the date of the written communication informing you of our decision.
Representative example £5000 loan over 36 months, 36 monthly payments of £168.90. Rate of interest 10.54% p.a. fixed. Representative APR. 22.81%. Total amount payable £6580.40, including Fee (Fees are charged at 10% of loan value and are usually payable in advance of draw down).