Stuck for cash? Is the bank not giving you that overdraft that you so desperately need? Thankfully, there is an answer - the Gloucestershire Development Loan Fund.
The GDLF is a not-for-profit, limited company that lends to start up and expanding small businesses and social enterprises, when they are unable to obtain the necessary finance through mainstream lenders.
Unsecured loans are offered when mainstream lenders have turned down all or part of a funding request. Loans can be for any amount between £500 and £9,500 and are repayable at a fixed rate of interest over 1-5 years. Support funding can also be provided under Sharia Law.
Now almost entering the fifth year of operation, the GDLF has already made a significant impact on Gloucestershire's economy, which total over £1 million. It is worth stating without the GDLF, many small businesses may never have got off the ground, or protected over one hundred jobs in the process.
The goal of the GDLF is to have a sustainable fully revolving loan fund and current repayments are already earmarked for new clients.
Stroud District Council is one of a number of partners helping to support the revenue costs of the GDLF. However, private sector finance is also being sought from socially responsible firms and individuals from across Gloucestershire, to ensure the successful continuation of this immensely important scheme.
If you need financial assistance, or maybe interested in becoming a partner, then please view the official website www.gdlf.co.uk
