Telephone: 020 8366 8244 Email: email@example.com Postal address: 3 George Mews, Enfield, Middlesex, EN2 6JA
Management & Governance: Keeping Your Money Safe
Frequently Asked Questions
Accounts & Reporting
Loans for home improvement
Savings and loans for your season ticket
Savings and loans towards funeral costs
Helping the self employed with loans to existing or new businesses
Savings and loans towards holidays
Savings and loans towards your dream wedding
Serving the community of North London for over 20 years
North London Credit Union
We have been lending to businesses through the credit union since we began in 1994.
We can help both established and new businesses (although we recommend Financing Start Up Enterprise for new businesses).
Most types of businesses are eligible, providing they can demonstrate to our lending panel they are soundly based and will be able to afford to repay any loan made.
We can lend up to £15,000 per individual (all loans are personal loans for business purposes) directly – so if there is more than one of you, we can loan multiple amounts for the same business, we have lent £60,000 across four partners on more than one occasion.
We also act as referral agents (although we never charge the borrower for this) for other pan-London schemes and are able to arrange loans of up to £50,000.
Interest rates will be quoted if we decide we can offer finance, but will be between 1% a month (12.68% APR) and 1.4% a month (18.2% APR).
The only additional fees which may be payable are for businesses outside Barnet, Enfield, Haringey, Waltham Forest or south Hertfordshire, who need to become a member of the North London Credit Union, via the London Enterprise Club (currently a one-off fee of £35).
For full details of business loans (with no obligation) and to get application forms, please call us on 020 8366 8244 or email firstname.lastname@example.org
In common with other financial institutions, we are required by law to establish the identity and address of new borrowers. For further information, please click here.
See how we’ve helped our members with finance for their business here.
Finally – to apply for a business loan through North London Credit Union, you’ll need to complete and submit an application which you can find here. Please ensure that you submit this with all the information requested on the first page of the application along with a membership application which you can find here
If you are thinking of starting out on your own, or you have been running your business less than a year or two, we recommend the Start Up Loan programme. In particular, we recommend Financing Enterprise Limited, an official Delivery Partner of The Start Up Loans Company, with all the experience of the North London Credit Union team and our partners behind it.
The programme offers loans at 6%, free business advice and mentoring. You can find out more at www.financing-startup-enterprise.co.uk
There are no fees or charges associated with this scheme, except interest – if you are contacted by anyone claiming to be able to get you finance under the scheme for a fee or percentage of the loan, it’s a scam. Get as many details as you can and email email@example.com