Cibas and the University of Portsmouth have developed a unique new finance scheme in partnership with Portsmouth-based Community Development Finance Initiative (CDFI) Parity Trust, an ethical, socially responsible lender that has helped the local community and businesses to develop and grow through access to finance, support and advice for over 10 years. Working with Cibas Parity have developed a finance package especially for artists and creative businesses.
A specialist Cibas Creative Business Advisor will help to ensure that your idea or your business is investment ready and that you’re able to make the most of a serious cash injection in your freelance career or business.
- Borrow from £2,000 to £10,000
- Repayable over a period up to 5 years
- 10% – 12% interest rate fixed for the period of the loan
- No early repayment penalty
- A single £95 admin fee
The loan can be used in any way that supports potential business start-up or growth, such as working capital, buying stock, rents and other business expenses, business development (such as marketing) and equipment, including fixed assets. The loan can also be used as ‘matched’ funding in bids for grant funding.
When you meet with Cibas, we’ll be looking at the big picture to provide a long-term and sustainable way for you to grow a business. As ethical lenders, we won’t proceed if we believe that borrowing money could put you at any kind of financial disadvantage in the future.
Cibas will ensure that you fully understand the terms of our loans and that the package is a perfect fit for your business and your personal circumstances. In addition to the support that you’ll receive in applying to this scheme, we’ll also support all successful applicants with advice and guidance for the duration of the repayment period.