ST ALBANS DISTRICT
CREDIT UNION
135 Hatfield Road, St Albans, Herts. AL1 4JX :
Phone: 01727 859135 : Fax: 01727 859135
Email: office@stadcu.org
Business Capital available from St Albans District Credit Union
People starting up or expanding a small business frequently need two things: a helpful source of finance, and good advice. Working with STANTA (St Albans Enterprise Agency) in an arrangement supported by the St Albans District Council, the St Albans Credit Union can provide both.
The Credit Union, a financial co-operative, encourages saving by residents and employees in the District - and provides loans for both personal and business purposes. The loans, provided at a competitive interest rate, are normally up to £5000 and do not need to be secured against collateral assets. Borrowers may repay a loan over a period up to 5 years, but there is no penalty for early repayment. There is no set-up/ arrangement fee and loans are agreed with a minimum of formality. Free life insurance is provided subject to the usual insurance conditions, e.g. exclusion of some pre-existing medical conditions and age.
Prospective borrowers should be developing a business plan based on advice from STANTA. The Credit Union loans team includes former bank managers. The loan officer comments that “We are happy to discuss business plans at a formative stage - at no charge to the borrower. We can suggest financing arrangements – which may include using the Credit Union where that is a sensible and competitive solution.”
Business loans can be for all kinds of reasons, such as equipping a rented start-up unit, and putting in place sufficient (but often underestimated!) working capital. So if you are thinking of starting up or expanding a small business – do approach STANTA, and also have a word with the Credit Union about possible finance.
Contact details:
St Albans Enterprise Agency Ltd, Suite 19 Stanta Business Centre, 3 Soothouse Spring, St Albans, AL3 6PF Tel: 01727 837760, Fax: 01727 851200, advice@stanta.co.uk. Web site www.stanta.co.uk
Complete your details and tick the box on the CONTACT US form and a Credit Union officer will contact you to discuss your proposal.
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