North East Business Loans

A guide to help you find small business loan providers in the North East

The North East has 136,000 of the UK's 5.4 million SMEs. Part of the ‘Northern Powerhouse’, the region's enterprises cover industries like construction, renewable energy, manufacturing, chemicals, pharmaceuticals, and oil and gas. North eastern businesses are also big exporters – it’s the only UK region with trade surplus of around £3 billion.

With top universities in Durham, Leeds, Newcastle, Sunderland and Teeside, the latest research and innovation, and graduate talent is contributing to the development of the local business scene.

Business loans for North East SMEs

Fleximize – First up is Fleximize, which provides a fast and convenient way to borrow money for your venture. The lender provides a range of flexible business loans for SMEs, designed around the needs of each individual business. The funding – ranging from £5,000 and £500,000 – can be repaid over a term of one to 48 months. It's ideal for early-stage and growing SMEs alike. Applicants need to be limited companies and LLPs, and sole traders can apply if they're looking to borrow £25,000 or more.

Five Lamps – This community support service offers startup loans for new businesses, and up to £50,000 for growing ventures in North East of England.

Pine Tree Enables – For SMEs that have been turned down by mainstream funding providers, they can apply for startup and expansion loans of up to £25,000.

PNE Enterprise – SMEs in the North East and Cumbria can apply for startup loans up to £25,000, repaid over a term of 1 to 5 years. Business mentoring, online learning and other benefits comes with the loan. If you’re a more established, growing business it's worth checking out other options.

Business Enterprise Fund – Small business loans are available for SMEs in Yorkshire and the North East. The provider offers unsecured loans up to £50,000 and secured loans between £50,000 and £150,000.

Business Finance Solutions / Project North East – Young entrepreneurs over 18 years old in the North East and Cumbria who are running new businesses can apply to borrow money and get mentoring. Their enterprise needs to be operating for 24 months or less.

TEDCO Business Support – Working with Virgin Start Up, TEDCO has loans on offer for entrepreneurs who need up to £25,000 to get their business off the ground. The application includes a detailed business plan and how the money will be used. There are quicker ways to access funding, especially if you don’t currently have a comprehensive plan to present to the lender.

Enterprise Answers – SMEs in Cumbria, Northumbria, County Durham or North Lancashire can apply for loans between £5,000 and £100,000. The funds are repaid over a term stretching to a maximum of 10 years. An arrangement fee of 2% is required, and you may also need to provide security like property against the loan.

The Key Fund – SMEs across the North of England can benefit from loans between £5,000 and £300,000. Startups and existing businesses are eligible, but they must be social enterprises. The fund supports organizations in the creative sector, healthcare, digital, housing, ecology, education and charity.

The North East Microloan Fund – Between £1,000 and £25,000 is available for micro-enterprises in the North East. It could be a good source of financing for a startup or growing business, but with 2 weeks’ turnaround time you need to be in a position to wait. If you need a quicker short-term loan, then it’s worth shopping around.

Transmit Start-ups – Working with the government’s Start Up Loan Scheme, Transmit Start-ups is providing loans up to £25,000 for SMEs that have been up and running for a maximum of 24 months. As above, the process can take up to 2 weeks, so for faster access to business loans, you’ll probably need an alternative provider.

Apply for a small business loan today

Fleximize's speedy application process means you could have an affordable small business loan within 2 days. If you're keen to press ahead, click on Apply Now.

Alternatively, the team at Fleximize is happy to take you through your lending options. Call today on: 0207 100 0110.

Get started: Apply now

Or check out The Ultimate Guide to Business Funding, which provides a comprehensive look at other financing options.