This could be the way to go for you, as it means you’ll know exactly how much you have to repay each month. Most bike shops don’t stock or have expertise in ecargo bikes, but there are a number of specialist retailers across the UK. APR, which stands for Annual Percentage Rate, is the official rate that represents the cost of borrowing.
In 2020, in response to Covid-19, The Prince’s Trust set up a £5 million Enterprise Relief Fund, offering grants to self-employed people and business owners aged between 18 and 30 in the UK. Some grants will be offered on the basis that you must also invest the equivalent amount in your business. For example, if you’re given a £10,000 grant, you’ll need to have £10,000 to invest too.
There are numerous incentives and grants available to support transitions to, for example, zero and ultra-low emission vehicles. Other types of investments are centred on loans from commercial institutions such as banks. Go Ultra Low WestEmployer Grants provide financial support to organisations for the provision of electric charging facilities at employment sites. These typically include installation of charging units and provision of charging equipment for fully electric or plug-in hybrid vehicles. We offer fully funded small grants up to the value of £250.
Air Quality Grant Schemes
When I called to chase it up I was told it was processing and would be 5-7 working days. Very unimpressed with this company and wouldn’t recommend. If you have a change in circumstance and decide you want to make extra payments on your loan, you can do so at any time, free of charge.
- Ellis was also lucky enough to keep her and her staff working throughout the lockdown and did not need to take any grants or loans, though she is considering a bounce back loan.
- Business finance expert Emily Relph explores the multitude of funding options out there for businesses looking to expand.
- Eligible residents and businesses will be able to apply for the maximum grant or the maximum loan.
- With iwoca’s reasonable rates and amazing staff, we were able to quickly obtain a loan to purchase equipment before our grand opening.
- I was told on the phone when I explained the error that it would be back in my account within 3-5 working days.
For example by examining the small print, you’ll be able to identify if there are any hidden fees. So as long winded as it may be, put the kettle on, make yourself a drink and read over the small print. You can be a HUDJO host by using any existing secure space on your business premises. By keeping bikes secure you generate additional income and give people more reason to visit you. Remember, business finance is a complex topic, so it’s important to speak to a professional financial advisor or accountant if you’re not sure of anything.
Iwoca was definitely the simplest loan I’ve ever taken out in my life. Last year we launched our product in Tescos and needed more working capital. Companies House defines a small business as one that employs fewer than 50 people, with a turnover of under £6.5 million. Note that some European manufacturers may have distribution arrangements in the UK and will direct you to their UK retailers, or perhaps only supply direct for larger orders.
Do I Have To Buy An Ecargo Bikes Or Can I Lease Them?
If your business has a low credit score, you could face a high interest rate. You could get an unsecured loan, which means you’ll avoid the risk of losing a valuable asset if you can’t make the repayments. From descending into the Dragons’ Den to popping along to your bank, there are lots of ways your small business can raise some extra funding. The nature and capabilities of the ecargo bike should be considered before purchasing, as well as future maintenance and storage. Find out more about the recipients of the eCargo Bike Grant Fund local authority scheme.
The advantage is it gives you the flexibility to quickly access some extra cash. But this type of arrangement tends to have higher fees than a business loan. The eCargo Bike Grant Fund Information Pack answers essential FAQs, and includes an initial list of suppliers and retailers whose ecargo bikes are eligible for the funding. Please note we are no longer maintaining this list of suppliers and retailers. Because repayments are the same each month, a personal loan is a great way of funding a whole range of purchases.