Loan Terms and Conditions
London Rebuilding Society, itself a mutual not-for-private-profit social enterprise, was established with the commercial objective of becoming a permanent and sustainable institution supporting the growing social enterprise sector. In order to achieve this we set our fees, interest rates and terms and conditions to cover our costs and protect our funds against losses.
The interest rate, arrangement fee, terms and conditions are set separately for each loan. These notes are intended only as a guide for enquirers and form no part of any contract, agreement or offer.
Loan Period
The term of the loan will depend upon the needs of the business, but will not normally be less than six months or more than ten years.
Interest Rates
Interest rates are set according to bank rates and market conditions, but also take into account the needs of the borrower and the level of risk involved. Each proposal is considered on its merits. Currently interest rates are set within the range 6.5% to 12% - the norm is 10% per annum.
Loan Terms and Conditions continued