John Hall, Chief Executive of SNE, was pleased to welcome Jim Cousins, MP for Newcastle Central, to the offices recently. Jim met with staff and a client, John Morrell. Jim was very interested to hear how SNE had helped John not only financially but also through ongoing business support.

"I am very keen to assist Street North East in their ongoing endeavours in this sector and will be pleased for John to contact me to ask me to lobby on behalf of Community Development Finance Initiatives which assist people in the North East" Jim stated.

SNE has been very happy to be able to support local businessman Michael Burn in his second-hand furniture and collectibles business in Walker.

Most recently we have been instrumental in assisting not with money but with advice, pointing Michael towards a contact who was able to set up his website http://www.styleandelegance.co.uk/ for him.

Advice, as well as money, is critical to our business support and we are always delighted to be able to help our clients to grow and develop their businesses in any way we can.

Hexham MP Peter Atkinson recently visited the regional offices of Street North East. Street North East has recently secured a significant loan fund from the Northern Rock Foundation and is now able to offer support to more businesses than ever. Under the leadership of Chief Executive John Hall SNE offers the distinctive combination of a commercial set up within a social enterprise context, offering help to those who fall outside of the conventional business finance set up.

Peter Atkinson met with John Hall, other staff members and one of Street North East's clients to hear about plans to develop the enterprise and Peter was particularly keen to encourage expansion of the service into Tynedale and rural Northumberland.

Following the meeting Peter said:

"It has been fascinating to hear about the work of Street North East and to better understand how they have developed the microfinance model, one that has been so successfully operated in developing countries, and applied it to the challenges of the economy here in the North East."

"I very much hope that they will be successful in expanding their operation and that people in rural parts of the region will benefit from their advice and get access to finance from the loan fund that would otherwise have been out of reach for them."

 

Who are we?

Street North East is a not-for profit organisation, working with the smallest of business to become their trusted financial partner; providing a source of sound business advice and manageable accessible finance.

We work with a wide cross section of the smallest business, or in our terms, "micro" businesses.

Our clients include

  • mobile mechanic,
  • hairdressers,
  • pet shops,
  • takeaways
  • landscape gardeners,
  • beauticians
  • and DJ's

and that’s just a few!

The two things all these have in common are;

  • they have been in business and generating cashflow for at least the last 6 months
  • they have previously found traditional bank lending unavailable

Whether you are self employed already or working towards legitimising your business, StreetNE can help.

We don't ask for a business plan, or expect you to fill out lots of long forms!

We understand you are busy running your business and need to access finance with minimum impact to your working day.

We are not like banks and building societies, we assess your ability to borrow and repay a loan on your current situation rather than your credit history alone.

We work hard to understand your circumstances so we can make loans where others will not.

County Court Judgements or a bad credit history is not a barrier to obtaining finance from us.

We spend time getting to know you and your business and plan together for the future. Together we work out how much finance will make a difference and how much your business can realistically afford.

Developer business loans are not secured against your home or any other assets - but we may ask you to find someone who knows and trusts you to guarantee the loan repayments.

Who is eligible for a loan from StreetNE?

Anyone who:

  • Is engaged in enterprise / income-generating activity
  • Has no more than 10 employees
  • Has established a cash flow for a minimum of 6 months
  • Is not able to borrow from a bank
  • Needs a loan for their business (not personal)
  • Lives in the North East region

How do we set our interest rates?

Our interest rates are fixed for the term of the loan, with no hidden or extra costs and are designed to be completely affordable.

All our advice and support is free.

Besides finance, what kind of help do we give?

We offer business advice to help small business owners. This might well include;

  • Suggesting how  you can take advantage of opportunities
  • Identifying and helping you to manage business risks
  • Helping you to make the transition to a formal business
  • Offering you advice on the use of the loan we can offer; suggesting the amount of  money you would be best accepting and structuring the repayment of the loan in a way best suited to your needs
  • Cash management support during the loan
  • Referrals to other useful organisations

What kind of things do people borrow for?

  • Stock purchase - to take advantage of low prices or high demand (for example, at Christmas time),  or to expand the business
  • Replacement of equipment (such as a van or computers)
  • Upgrading of equipment (for example, to buy a newer taxi)
  • Purchase of equipment (such as replacing rented equipment)
  • Refurbishment of premises
  • Expansion of current business
  • New product / new business development

Why might we ask you for a personal guarantor?

  • To provide evidence of  trustworthiness;
  • To ensure there is someone you can provide you with financial support in the event that you experience business problems;
  • To provide us with a second possible loan repayment source in the event that you are unable to repay the loan

Call our confidential line:
0191 230 2080

Or drop us an email for any specific questions:
info@streetnortheast.co.uk

Street North East Limited, Company No 5086142. Registered Office: Third Floor, Portman House, Portland Road, Shieldfield, Newcastle upon Tyne, NE2 1AQ
.