Finance for Enterprise Reviews

Finance for Enterprise is a specialist provider of business loans and financial support for small and medium-sized enterprises (SMEs) across the UK. Founded with a focus on regional economic development, the company operates as a responsible finance provider and is authorised and regulated by the Financial Conduct Authority (FCA). It works closely with local enterprise partnerships and government schemes to offer accessible funding to businesses that may struggle to secure finance through traditional high-street banks.

Key features

Borrowers may benefit from a dedicated relationship manager assigned for the entire loan lifecycle. The lender also offers business mentoring and advisory services, flexible repayment schedules, and a transparent fee structure with no hidden charges. Partnerships with the British Business Bank, including the Enterprise Finance Guarantee (EFG) scheme, may enable lending to otherwise ineligible businesses.

• Online application portal with step-by-step guidance
• Dedicated relationship manager for each borrower
• Business mentoring and advisory services included with the loan package
• Flexible repayment schedules: monthly, quarterly, or tailored to seasonal cash flows
• Free business health check and financial assessments for prospective borrowers
• Integration with British Business Bank schemes (EFG, Start Up Loans referral partnership)
• Support with business planning and cash flow forecasting during the application process
• No early repayment fees or hidden charges on most loan products

Eligibility

Businesses may qualify if they have a minimum of 12 months trading history; start-up funding is not available except via referral to Start Up Loans. The lender does not publish a specific minimum annual turnover, but businesses must demonstrate the ability to repay the loan from cash flow. Certain sectors are excluded, including gambling and betting, payday lending, money services, adult entertainment, speculative property development, arms and munitions, and political organisations. Geographic coverage is national across the UK, with a focus on the East Midlands, Yorkshire, and Humber regions; face-to-face support is primarily available in these areas.

Loan options

Finance for Enterprise offers several loan products tailored to different business needs. Maximum loan amounts across all products are capped at £250,000, with terms ranging from 12 to 60 months. Interest rates vary by product and risk assessment, and no arrangement or early repayment fees apply on most loans.

• Standard Unsecured Business Loan: £1,000 to £250,000. Representative APR 7.4% to 24.9%. No security required, but a personal guarantee is typically required for loans over £25,000. Minimum 12 months trading history.
• Enterprise Finance Guarantee (EFG) Loan: £1,000 to £250,000, backed by the British Business Bank. Representative APR 8.4% to 19.9%. A 2% government guarantee fee is payable annually by the borrower. Requires prior rejection from a mainstream bank. Personal guarantee may be required for loans over £50,000.
• Healthcare Business Loan: £1,000 to £250,000. Representative APR 6.9% to 17.9%. Available to healthcare professionals such as dentists, vets, care homes, and pharmacies. No security required for loans up to £150,000. Personal guarantee typically required for loans over £75,000.
• Community and Social Enterprise Loan: £1,000 to £250,000. Representative APR 5.9% to 14.9%. For registered charities, CICs, and social enterprises. No personal guarantee required for loans under £50,000 (subject to assessment).

How to apply

Applications are submitted online via the lender's website. Telephone and email support are available, and face-to-face meetings may be arranged in regional offices. An initial decision is typically provided within 24 to 48 hours, with full approval and funding usually completed within 5 to 10 working days after documentation is received.

• Submit a business plan including market analysis and growth projections
• Provide financial projections (cash flow forecast and profit and loss forecast for 12 to 24 months)
• Supply last 12 months of business bank statements
• Provide last 2 years of filed accounts (or management accounts if applicable)
• Submit proof of identity (passport or driving licence)
• Provide proof of address (utility bill or bank statement)
• Give details of any existing borrowings and security
• For EFG loans, include evidence of bank decline (a letter or email from a mainstream lender)

Funding Agent's view

Finance for Enterprise is a relationship-focused lender that may be suitable for SMEs that are too established for microfinance but too young or risky for high-street banks. Its unsecured lending options, government-backed EFG loans, and niche products for healthcare and social enterprises offer targeted support. A potential limitation is the maximum loan amount of £250,000, which may not suit larger capital needs. Interest rates are typically higher than high-street bank loans, reflecting the higher risk profile of borrowers. The requirement for a personal guarantee on many loans is a consideration, as is the minimum 12-month trading history that excludes true start-ups. For small to medium-sized businesses seeking personalised support, flexible terms, and no early repayment penalties, this lender may be a relevant option to consider.