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Impetus

Impetus. Current area of lending is Herefordshire, Worcestershire and Shropshire and Telford & Wrekin New and existing businesses Primary Objective is Access To Finance for viable enterprises We are a Community Development Finance Institution (CDFI) – part of the CDFA. Based in Pershore.

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Impetus

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  1. Impetus • Current area of lending is Herefordshire, Worcestershire and Shropshire and Telford & Wrekin • New and existing businesses • Primary Objective is Access To Finance for viable enterprises • We are a Community Development Finance Institution (CDFI) – part of the CDFA. • Based in Pershore. • We lend public money.

  2. Impetus Loan Product • £5,000 - £50,000 (sometimes £100K) • Interest and Capital repayments • Up to 5 years • Min.14% fixed • No set up fee • Security taken if available • No early repayment penalty

  3. Security • Can lend unsecured • Partial security required for loans less than 20k • Personal Guarantees for Ltd Co’s • Real security for loans over £20k

  4. Applications require • Business Plan • Any previous trading figures • Personal and business bank statements • Credit searches • Legal documentation • Proof of finance gap

  5. Our track record • Impetus started lending in 2005 • We have grown our business since then • Net assets March 2013 £2.5M

  6. FFCL BUSINESS LOANS. 12 MONTHS LENDING BY CDFI Distribution of qty of loans advanced Distribution of £ advanced 12 Months to Sep 2011

  7. Links with Local Authorities post demise of the RDA’s • Impetus operates the small business loans schemes in Shropshire, Telford and Herefordshire (Marches LEP) and in Worcestershire (Worcestershire LEP). Impetus is the 0-£100K ‘access to finance’ partner for both LEP’s. • The contract in Worcestershire/Shropshire is a 2 year contract (£1.5M/year) and the target lending 50/50 matched with ERDF. • Regional Growth Fund through CDFA/Unity Bank is £1M/year for 3 years. • We are planning to be the SULP delivery partner in our area 0-£5K.

  8. Where does the capital come from? • LA’s (to be used in the LA area), recycled capital of our own, new and recycled capital from ERDF (Worcestershire and Shropshire), borrowed capital from Co-op Bank/Unity Trust (£0.5M/year for 3 years) WM , Regional Growth Fund capital from CDFA (£0.5M/year for 3 years) WM.

  9. Case Study – The Simply Delicious Cake Company

  10. Case Study 2 The Faction Bike Company

  11. Contact George Mackison or Steve Williams 01386 556000 07976 796932 07747 750482 George@wtof.org.uk Steve@impetus-marches.co.uk www.impetus-marches.co.uk www.fair-finance.net

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