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Call us on 01482 324976 or
Email M.Meyers@chamberacornfund.com

Eligibility & Services

Eligibility & Obligations

Whilst our office is based in Hull, we now operate across the East Riding, North and South Yorkshire and Lincolnshire. We are also happy to look at applications from further afield. We operate via a number of business advisors working within the region whose contact details can be found on our contact page. We will look at supporting most business sectors although retail is not a priority in the present difficult trading conditions.

"We will support sole traders, partnerships, and limited companies. Social Enterprises and Charitable Companies will be referred on to our specialist colleagues at Key Fund in Sheffield. "

We will require all potential clients to have approached a bank prior to approaching the Acorn Fund and provide suitable evidence of a refusal.
As a beneficiary of European Regional Funding, successful applicants to the Fund will be required to complete various documents concerning business status and number and ethnicity of employees from time to time.

Services

Our principal offering remains a flexible commercial loan constructed to suit the applicant’s circumstances. We will look at loans from £1,000 to £200,000 and occasionally beyond. Loans are not automatically granted. All applications are be subject to a full assessment of the client’s circumstances and affordability will be a key consideration. Please see the Acorn loan section for more details.

However from time to time we have grant funding available.

Chamber Acorn Fund is also a delivery partner for the Government Start Up scheme, designed to encourage entrepreneurs who want to start their own business. Please see further details on the Start Up Loans page.

Applicants should complete an application form, available to down load on the Acorn Loan or Start Up Loan page or by calling or emailing the Hull office and asking for an application form.

Interviews and clients visits will not be conducted until a business plan and financial projections have been submitted.

Provided all required information has been provided the evaluation process is quick. Acorn loan funds released must pass through a suitable business account in the name of the business applicant. “Start up Loans” are made to the individual.

Repayments to all loans will be collected by direct debit via the BACS system

In Summary our current services are:

ACORN LOANS

  • Loans from £1000 to 200,000
  • Repayment between 1 -10 years
  • Interest from 10% to 14% fixed
  • Loans can be used for capital or revenue projects
  • No penalty for early repayment

START UP LOANS

  • Loans from £1000 to £25,000
  • Repayment between 1 -5 years
  • Interest currently 6% fixed
  • Loans can be used for capital or revenue projects
  • No penalty for early repayment

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