Community Finance - Do You Need a Personal or Business Loan?

Welcome to the Five Lamps Business Loans and Enterprise Development Team

 The Five Lamps Organisation is a community based, non profit making, registered charity situated at Thornaby, Stockton-on-Tees. We are a member of the Community Development Finance Association (CDFA) and lend money to new start and small businesses trading up to 12 months old, who for whatever reason cannot borrow money from the high street bank.

Without access to finance many businesses cannot get off the ground and others are unable to expand. We can work with customers throughout the Tees Valley area (including Stockton, Middlesbrough, Redcar & Cleveland and Hartlepool) to further develop their start up or growth plans and enable local people to fulfil their potential.

We recognise the value of the contribution made by small businesses to the local economy. Our typical customer is a sole trader or partnership and our funding is very flexible and can be used for equipment such as tools, machinery, vehicles or stock, rent, insurance and marketing material. Our recyclable loan facility builds upon our original Phoenix Fund project supported by the DTI and Small Business Service.

Key Loan Features:-

  • Loans range from a minimum of £500 up to a maximum of £5000 and our average first time loan is £2000.
  • Terms up to 36 months
  • Monthly repayments by Direct Debit
  • Typical APR 19.6%

We also offer:-

  • Free Accessible Support
  • Pre-start, Start-up & New Start Advice
  • Business Plan & Idea Development
  • One-to-one business coaching
  • Preparation of Financial Projections
  • Sales & Marketing Assistance
  • Ongoing help and business review

For further information or an informal chat please contact the Five Lamps and ask for the Enterprise Development Team.

Personal Lending

Struggling with debt?

Money plays an enormous part in our lives and the decisions we make about financial matters can have a significant impact on how we live both now and in the future.

Many hundreds of thousands of people in the UK struggle with debt at some time or other.  While this is always a distressing situation to be in, there are many ways to lighten the load.

If you live in the Stockton, Thornaby or Middlesbrough areas and are:-

  • Having problems with bills
  • Not sure how to get out of debt
  • Having problems with doorstep lenders

The friendly staff at the Five Lamps Organisation may have the solution.  For a personal loan from £50 to £1000 please contact the Financial Inclusion Officer on free phone 0800 4580120.

Tandem

Tandem has been set up to provide general financial advice to all tenants and leaseholders of Erimus Housing Ltd.

Tandem advisers work in Middlesbrough and Stockton and we offer free, confidential help and support on a wide range of money matters.

We can help you to:

  • Claim your full benefit entitlement
  • Deal with any debts, including rent arrears
  • Budget, save and find ways to make your money go further
  • Choose a bank account or other financial services such as home insurance
  • Compare loan costs and access affordable loans
  • Get specialist help and advice

For further information please click on the following link: www.tandemfinance.org.uk

We hope you find our website useful, if you would like to see something added or to comment in any way please e-mail website@fivelamps.org.uk or fill out our online contact form