First of all, we talk about your business ideas with you. We ask straightforward questions and can help you answer these, or signpost you to volunteers or others who can support you.
In the meantime, a great place to start for money and self-employment advice is www.moneyhelper.org.uk.
We can support less-experienced business owners through our network of volunteers who are happy to give their expertise and time to support you (e.g. marketing, accounting, sales, etc) and we can signpost you to others who can advise, mentor or coach you to help you succeed.
What can I use the loan for?
No, we won’t or can’t lend for certain business activities or sectors. For example, we won’t lend for the following: gambling, betting; weapons, arms, drugs, chemical manufacture, pornography, the occult, banking, financial services, money services and property ventures.
Trust Leeds reserves the right to decide at its discretion which businesses it will lend to.
How much will it cost me?
The details of the cost and your repayment schedule will be explained clearly when you come and see us.
For more information about interest rates, we suggest you look at the Money Saving Expert website: https://www.moneysavingexpert.com/banking/interest- rates/
Who can apply for a loan?
Trust Leeds is set up primarily to support people in Leeds and West Yorkshire.
How do I get the loan?
We ask you to complete our Application Form and our Personal Budget Plan and Monthly Business Costs & Sales Plan (or similar if you’ve done the two spreadsheets in a different format). And if you have a CV, please send that to us too.
We do not provide advice to you on the suitability of a loan.
We can help go through and complete the application form with you.
We will also ask for copies of your last 12 months’ bank statements and proof of your identity and address, such as passport/driving license and utility bill/bank statement (which you can show us during our in-person meeting with you).
How much and how long?
Paying your loan back
We arrange with you to have a Bank Standing Order on your account.