Who can apply?

To apply for a loan through the North East Microloan Fund you must meet the eligibility criteria. The following organisations and individuals can apply:

• Small businesses (whether companies, partnerships, sole traders or third sector organisation) who are unable to access mainstream finance but have a viable business capable of repaying a loan.
• Individuals who want to start a business or third sector organisation can also apply.
• Applications are welcomed from all individuals including those defined as disadvantaged (e.g. individuals with a disability, unemployed people, ex-services personnel and ex-offenders).
• All applicants must be located in the North East of England (Northumberland, Tyne and Wear, Durham and Tees Valley).
• Individuals who are not resident in the North East region must declare that their business and the majority of trading activities are within the North East and provide evidence of this.

Under State Aid, ERDF and EIB* regulations the following sectors and/or activities are ineligible for support from the Finance for Business North East Microloan Fund:

• Primary production and/or marketing of fishery and aquaculture products
• Primary production and/or marketing of agricultural products
• Coal and steel sectors
• Road freight transport and large scale transport companies
• Business in financial difficulties and/or in arrears with HMRC. (‘Time to Pay' arrangements are allowed).
  
• Housing Construction and renovation
• Dismantling of nuclear power stations
• Synthetic fibres
• Retail - please contact us for clarification on this
• Shipbuilding
• Banking and Insurance sectors
• Establishments providing generalised (school age) education
• Local welfare facilities
• Production of weapons and ammunition, arms, military or police equipment
• Gambling and related equipment
• Tobacco manufacturing, processing and/or distribution
• Animal experimental and scientific purposes
• Activities which give rise to environmental impacts that are not largely mitigated and/or compensated
• Ethically or morally controversial sectors
• Real Estate development
• Financial holding company, industrial group and/or leasing companies
• Export related activities
• Use of domestic products over imported products
  

These sectors/activities are used as a guide only and are subject to change. If you would like to confirm your eligibility please contact the Entrust Funds Department on (0191) 244 4029 or email: loanenquiries@entrust.co.uk

*State Aid: European Commission

*ERDF: European Regional Development Fund

*EIB: European Investment Bank