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Frequently asked questions
Who are our customers?
People who are sole traders, partnerships or limited companies who would like to start a small business or develop their business further.
New or established social enterprises such as cooperatives and voluntary organisations that have social benefit or community development as their objective.
What is special about CART?
We specialise in lending to people, businesses and organisations who have sound business ideas but have found it difficult to borrow elsewhere through for example, lack of security, no business track record, an unusual idea in a sector that does not attract mainstream support, previous business ventures may have been unsuccessful or have a poor trading history, seasonal businesses or are operating in the not for profit sector with a legal structure which makes normal funding difficult but where a high social return is the aim.
Do I have to approach a mainstream lender before coming to CART?
Yes. Before an application can be considered you will need to demonstrate that your initial request for business finance has been rejected by a mainstream lender, either in full or part.
Will I need to have a business bank account?
Yes. A business bank account is required for the efficient running and operation of your business.
What interest rate do we charge?
Interest rates are quoted on the Our
Products page.
Is there an arrangement fee?
An arrangement fee of up to 2% of the loan amount will be deducted from the loan.
What information will you be asked for?
A completed and signed application form
A business plan which tells us who you are, your business objectives, how much you need to borrow, what you need the loan for and how the loan will be repaid.
Financial information to show that your business and future plans are viable.
Is security ever asked for?
We do reserve the right to consider taking security.
Can I take a repayment holiday?
In some cases this may be possible.
Are there any penalties for early redemption?
There are no penalties for early redemption.
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