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<h1 class="title">Business Loans Without Banks</h1>
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<span class="date-display-single">22 September 2010</span> </div>
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<p>
The Advantage Early Growth Fund is now fully invested after 6 years and investments in 61 companies alongside over 510 business angel investors.<span> </span>As the fund enters a new phase where exits are a top priority the AEGF team have come up with a new funding initiative “<strong>The Business Loan Network</strong>”.<span> </span></p>
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They believe that the “loan gap” is now more serious than the “equity gap” and will be operating the Business Loan Network nationally in a similar way to Business Angel Networks, putting together syndicates of investors to make secured loans in the range £30k to £3m.<span> </span>Whilst the loans will not attract EIS tax relief they should be much lower risk than equity and provide regular monthly income.<span> </span>Loans will be repayable in fixed monthly instalments over periods ranging from 6 months to 7 years with 3-5 years being the most typical.<span> </span>Loans are offered by an online auction and interest rates available are predicted to range from 6% to about 12% depending on the risks involved. Membership for lenders is free and lenders make all their own lending decisions.<span> </span></p>
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The team are seeking to work with other BBAA Members in finding and vetting suitable lending opportunities.</p>
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<span>The Business Loan Network will be launched on September 28<sup>th</sup> at the 6th AEGF Conference in Birmingham.<span> </span>There is more information about the Business Loan Network at <a href="http://www.thincats.com/" rel="nofollow">www.thincats.com</a> and you can request an invitation to the AEGF Conference from <a href="mailto:malcolm@aegf.co.uk" rel="nofollow">malcolm@aegf.co.uk</a></span></p>
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