Q. How do I apply?

A. It couldn't be simpler: Either fill in our online enquiry and we will get back to you or go to ‘How to Apply' and download an application .

Q. What happens once you receive my application?

A. Once a complete application is received (to include all items listed) you will be asked to attend an informal meeting with a member of staff from ‘Arrow' to discuss your business proposal in greater detail. This usually takes place within 7 working days of receipt.
The full assessment process should be completed within 20 working days.

Q. Why do I need to approach a bank before applying to ‘Arrow'

A. ‘Arrow' provides loans to those that are unable to obtain finance through high street banks.
You must explore obtaining finance through a mainstream finance provider before making an application to ‘Arrow'.

Q. Why would a bank refuse to lend?

A. A bank can refuse to lend for many reasons, but the main reasons are:

Lack of track record

Lack of security

Failure to meet conventional credit scoring methods

Q. Where can I get help with producing my business plan?

A. You may be eligible to obtain free advice on business planning by
calling The Chamber of Commerce 0n 0121 607 0809.

Q. What is my personal credit file?

A. Your personal credit file is a document that holds personal information
about any form of credit that you may have had, usually in the last
6 years.

Q. How can I obtain my personal credit file?

A. You can apply for your own personal credit file at a
minimal cost, by logging onto www.experian.co.uk

Q. Do ‘Arrow' offer grants to businesses?

A. No. ‘Arrow' is a loan guarantee scheme,
loan repayments are set at the beginning of the loan and are usually
over 36 months.

Q. Arrow' works closely with Lloyds TSB. Do I need to open my
    business ban account at this bank before applying to ‘Arrow'?

A. No. Only once a loan is agreed, will you be required to open
a business bank account with Lloyds TSB.