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FINANCIAL SUPPORT FOR YOUNG ENTREPRENEURS


Interest Rate for Secured Financial Support 4.5% 
Interest Rate for Unsecured Financial Support 5%

Repaid over a maximum of 5 years

Bank of St Helena values the ideas and vision of our young people and are available to assist our young entrepreneurs on St Helena up to the amount of £5,000.

To be eligible for finance, you must be:

  • aged 18 – 25 years
  • setting up business for the first time
  • sole owner of the business or in partnership with another young entrepreneur who also meets the criteria above

 

Application Criteria
  • A fully completed business loan application form
  • Payment of the Application fee through Online Banking or at the Bank
  • A Business Plan, covering a minimum period of three years.
  • A Monthly Cash Flow forecast, projected for a minimum of three years.
  • Trading, Profit and Loss or Income and Expenditure Account projected for the same period.
  • Tax Certificate
  • Company documents (where applicable).

For more details on  what is required for a business loan/overdraft application please download the ‘Application Guide’ below.

 

Application Process

Upon receiving an application and all documentation required, an in depth analysis is undertaken on the business proposal. This process is likely to take 2-3 weeks (10-15 working days) depending on:

  • The details and accuracy of the information provided
  • The security offered
Unsuccessful Applicants

A loan application may be declined for a variety of reasons. The Bank reserves the right to refuse or approve loans at its sole discretion, without the requirement to provide a reason for doing so.

Successful Applicants

A successful applicant will be notified by telephone, email or letter.

 

Administration Fees

If your application is successful, you are required to pay an administration fee to the Bank for work carried out on your application. See the table below for the relevant admin and cancellation fees. 

Application Processing Fee£10
Administration Fee£20
Cancellation Fee£20
Relevant Terms and Conditions, Forms, Guides and Brochures

Terms and Conditions

How your Loan Works

Application Guide

Cash Flow Forecast

Sole Trader or Partnership Application

Companies and other Registered Organisations Application

Contact Us

(+290) 22390

commerciallending@sainthelenabank.com