FAQs

  1. I have a County Court Judgement against me and I have previously been declared bankrupt. Can I still apply for a loan?
    Yes, we will be assessing whether your business is likely to be successful so a good business plan is the essential thing.
  2. Should I send my application form in before I have completed my business plan?
    No. Discuss your application with the Fredericks Oxfordshire Client Manager and then send him the completed application form, business plan and the required documentation together.
  3. I have never done a cashflow before. I may not do it right what should I do?
    Your advisor from Oxfordshire Business Enterprises will be able to help you. 
    See the support & advice page for more details.
  4. How do I know what the loan repayments should be for my cashflow?
    The Fredericks Oxfordshire Client Manager will be able to help you.
  5. How long does the funding process take?
    This varies very much according to how much information you still have to research following the initial review of the business plan, and how quickly this is done. 
    A funding meeting can be arranged within a four week time span once all the information requested is obtained and all paperwork is up to date.
  6. What is the duration of the loan?
    The terms and structure of any loan offer will be entirely at the discretion of the funding panel - the duration is normally between 2 and 5 years dependent on the size of the loan.
  7. What is the interest rate?
    We will be able to quote you an interest rate and repayment terms when you apply.
  8. Is there a penalty should I wish to pay it back early?
    No. 
  9. How soon do I start paying back the loan once it has been awarded?
    Repayments start the month after the loan has been drawn down.
  10. How is the loan repaid?
    After a loan is awarded the successful applicant receives a Loan Agreement giving full details of the monthly payments.  When they agree to these a direct debit mandate is sent to them to sign and forward to their bank who will set up a monthly direct debit from their business bank account to Fredericks Foundation.
  11. What happens if I cannot make my payment one month?
    You should telephone us as soon as you know you may have a problem, if you are ill for example and are unable to work.  We will do everything we can to help you, but you should always remember we cannot help if we do not know there is a problem.  The key thing is: 'keep in touch!'

I have been working with OBE for the past eight years as an advisor to those people wishing to start a business of their own. Raising the necessary finance to get started can often be a struggle. Working in partnership with the Fredericks Foundation now means that we can make a real difference to the success of our clients ambitions.

Chris Carr,
Oxfordshire Business Enterprises
www.oxonbe.co.uk

Call us in confidence

01865 893383