Loan repayments are collected monthly via Direct Debit and will be collected by Business Finance Solution (BFS). BFS is an official Finance Partner of the NEA Start Up Loan working with Newable. Your loan documents will indicate your monthly repayment date.
Please ensure you have sufficient funds to meet your monthly loan repayments when they become due. Repayments will be taken by Direct Debit and failure to repay the loan may result in your credit profile being adversely affected which may also result in recovery action being taken. If you have any difficulty in repaying your loan, please speak with our Finance Partner, Business Finance Solutions. Their Collections Team can be contacted on 0161 245 4900 or by email at SULT@b-f-s.org.uk.
As outlined in the terms and conditions of your NEA Start Up Loan, you are responsible for keeping up with repayments. Our Finance Partner, Business Finance Solutions may need to take formal action against you if you do not keep up repayments and this could damage your credit rating and affect your chances of securing future loans and other services. It is in your best interests to take action as soon as possible.
If you are employed and have an income but are struggling with your bills/debts, the debt charity, Step Change, may be able to offer you free, confidential and personalised debt support. Visit www.stepchange.org or telephone 0800 138 1111. Lines are open 8am to 8pm Monday to Friday.
The National Debt Line offers free, confidential advice across England and Wales. Visit www.nationaldebtline.co.uk. Telephone 0808 808 4000. Lines are open 9am to 9pm Monday to Friday and 9.30am to 1pm Saturday.
The Citizen’s Advice Bureau can give you information on your rights including benefits and debt. Visit www.adviceguide.org.uk for contact details of your local Citizen’s Advice Bureau.
If you are worried about your credit score then Equifax can help you check your credit record. Visit www.equifax.co.uk.
If you expect to default on a loan repayment, get independent advice as soon as possible, then contact the Business Finance Solutions Collections Team on 0161 245 4900 or alternatively, SULT@b-f-s.org.uk.
Sites listed at www.newableenterpriseloans.co.uk/managing-your-loan.php may help.
Newable Business Loans Ltd is not liable for the content on the sites featured on newableenterpriseloans.co.uk.
Business Finance Solutions will continue to recover outstanding loan repayments.
For help when filling in application forms, guidance or further questions about the loan fund: