must be an SME based in Northern Ireland which can demonstrate growth potential and generally be in the manufacturing, engineering or tradable services sectors with export potential;
companies must be able to demonstrate ability to service loan repayments from projected cashflows;
applicants cannot operate in the excluded sectors, such as coal mining, steel making, shipbuilding, as defined by the EU Risk Capital guidelines or be a company in an insolvency process;
must be an identified funding gap in a proposed investment (applicants must have tried and been unable to raise all required funding from banks/financial institutions);
investment cannot breach State Aid Block exemption and must take account of other ‘State Aid’ receipts or offers such as grants;
informal approaches over the telephone are welcomed to discuss the loan proposal, but in due course a business plan will be required to progress a loan application.
What We Do
provide loans to established SME companies seeking access to growth finance. Whilst a positive trading history is desirable, where this is not evident businesses should be able to demonstrate a recent return to profitability with a clear plan to build on this;
loans will be between £50k and £500k per transaction, over a maximum 5 years with repayments on monthly amortising basis (ie capital and interest);
loans will be typically unsecured and personal guarantees will not be sought;
pricing will depend on risk assessment of each company but current expectations are of interest rates of between 6-14% (including cost of funds), plus an additional small profit share arrangement (paid annually based on net profits);
loans provided are expected to be complementary to existing sources of finance including banks, trade finance sources and equity investors.
What We Don’t Do
provide grant finance or ‘soft’ loans – loans are provided on commercial terms;
provide start up capital for new companies;
fund MBO/MBI or merger/acquisition transaction funding to effect change in ownership however we can provide post transaction working capital funding;
WhiteRock Capital Partners LLP is a limited liability partnership registered in Scotland (SO304051) with its registered office at 1 George Square, Glasgow, G2 1AL. We use the title “director” to refer to members of the management board of WhiteRock Capital Partners.
WhiteRock Capital Partners is authorised and regulated by the Financial Conduct Authority. It is the appointed manager of the Growth Loan Fund.