Nunn Hayward - May 2003

Abacus May 2003

Could you be entitled to a bit of help from the EEC?

European Investment Bank Loan Support Scheme

The scheme involves loans for small and medium-sized businesses making a capital investment

Barclays administers the Scheme which has been designed in conjunction with the European Investment Bank to lower the cost of finance for businesses that are undertaking a capital investment.

The European Investment Bank provides this facility in order to support and encourage the development of and growth of small and medium-sized businesses throughout the European Union.

The principal benefit of the scheme is the lower cost of finance. The precise nature of the arrangement will depend on the size and type of borrowing. In general, once eligibility has been confirmed and the loan drawn down, the business will receive a one- off payment (min Ł500, maximum Ł30,000).

The scheme can be used in conjunction with a range of Barclays loan products and available options, enabling a business to choose the type of loan which best suits their needs. The loan has to be Ł30,000 or more and have a term of at least three years.

The business must have fewer than 500 employees and net fixed assets of less than Ł50 million.
The project must incorporate an underlying investment strategy that creates assets costing more than Ł60,000 but less than Ł15 million.

Loans for purposes in connection with speculative property development are specifically excluded.

Applications for an EIB Loan Support Scheme are made in the same way as for other loans and can be done through a local branch of Barclays Bank

If you would like more information please contact your usual Nunn Hayward partner.

INVESTMENT OPPORTUNITIES EXPLAINED

We live in uncertain times! Is now the time to move into Equities? Residential Property? Where will income come from if interest rates continue to drop? How can tax planning improve matters? What is a wrapper?

Nunn Hayward, Chartered Accountants are hosting a seminar on the 25th June when David Gurr from Fund Managers Tilney together with Sanjay Patel of Fuse Invest Limited will join with Steve Cook and Douglas Brown of Nunn Hayward to discuss the above and there will be an opportunity to ask questions afterwards.

As attendance is limited contact Kathy Snowdon on 01753 888211 to secure your place on what will be an informative and entertaining presentation.

The seminar is being held at The Bull Hotel commencing at 6.00 pm.

If you are unable to attend but would like a copy of the presentation notes, or have any queries you would like to discuss please contact us.

Please contact us to discuss the above further

Tel: 01753 888211 Fax: 01753 889669 Email: abacus@nunn-hayward.com
Nunn Hayward, Sterling House, 20 Station Road, Gerrards Cross, Bucks SL9 8EL.

Chartered Accountants, Registered Auditors and Insolvency Practitioners. Authorised to conduct Investment Business under the Financial Services and Marketing Act 2000 and regulated by the Financial Services Authority.

This publication has been prepared as a guide only to topics of current financial and business interest. No responsibility for loss occasioned to any person acting or refraining from acting as a result of any material in this publication can be accepted by us. All rights reserved.

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