Are retail sector businesses eligible for a loan?
Yes, ALL types of businesses
will be considered, both new and established, operating in any sector.
How long can the payments be spread over?
Two to five years.
How much can I borrow?
£
2,000 to £25,000 or a maximum of 25% of the capital required
for a project - whichever
is the lesser.
How do I make repayments?
On the first day of each month, by standing order.
Does my business have to be based in Pembrokeshire?
Yes, only businesses
providing employment in Pembrokeshire will be considered.
Does the project have to be creating a new job?
The aim of the scheme is to consolidate and create permanent secure
employment within the county and so we ask that for loans up to £10,000 a
minimum of one job is created or two retained and for loans greater than £10,000
a minimum of two jobs created or four jobs retained.
Can I use a Pembrokeshire Lottery Loan for refinancing?
No you cannot, the loan does not act in place of conventional funding,
it should be syndicated with other sources where a funding gap exists.
Does the society check credit history of applicants?
All applications
will be credit checked. Any outstanding credit judgments will generally render
the project ineligible.
Do I have to play the Pembrokeshire Lottery to qualify?
All applicants should be contributing members of the Lottery
and remain so for the duration of any loan granted.
How long will it take to receive the cheque if my application is successful?
If the Investment Panel approves your application and all
conditions are met, then the cheque is available straight away.
