Wessex Business Loans

Wessex provides business loans to people in Devon, Dorset and Somerset, who have a good business idea, but have not been able to get money from a bank. Our priority sectors are food, environment, and creative arts. We also provide loans to social enterprises in any sector. People wanting a loan for a business that falls outside our priorities may still be considered for a loan.

We are especially interested in lending to people in villages and small towns, but we can lend in cities as well.

Who can receive a Wessex Business Loan?
What kinds of businesses can we help?
How much you can borrow, and what will it cost?

If you need help in developing your business idea, or putting together a business plan, you can contact:

In Devon: Business Link for Devon and Cornwall, Phone 0845 6009966 | email
In Somerset: Somerset Business Link, Phone 08457 211112 | email
In Dorset: Business Link South West, Phone 01275 370896 | email

If you would like a guide on how to start a business, or on other matters like finding premises, click here.

Or, if you are a social enterprise, or would like to start one, click here for organisations which can help you.

Who can receive a Wessex Business Loan?

If you want to start a new business, or expand an existing one, we can lend you money if:

The business idea is good (we need to see a business plan - if you need help with this, please contact us)
You can show you will be able to repay the loan
You or your business is based in Devon, Dorset or Somerset.

What kinds of businesses can we help?

We will lend to individuals or companies. We are especially keen to lend to social enterprises.

We would particularly like to support:

Food Producers
Renewable Energy Companies
Social Enterprises
Smallholdings
Horticulture

How much you can borrow, and what will it cost?

Wessex can lend:

From £1,000 to £30,000 for a period between 6 months and 5 years.
A typical loan for a start-up business might be £5,000 over 5 years.
At a fixed interest rate - that is, it will not go up or down during the term of the loan.

How do I apply for a loan?

Firstly complete the initial assessment form that can be found here (MS Word, 167kB).

Once we have reviewed this part of the application, we shall either:

invite you to make a more detailed application, or
advise you that we cannot provide a loan to you.

If you are asked to make a more detailed application, a decision for lending will be made from using the information you provide, your business plan, and a meeting with you. We feel it is very important that we get to know you and your business before making a lending decision.

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