Mablethorpe & District Community Loans Fund

(Mablethorpe, Trusthorpe & Sutton on Sea)
A Coastal Community Challenge initiative.

Experience Enterprise Loan Terms & Conditions

Applications

Loans are for domestic emergencies examples of which are shown below.

  • Applicants must be aged 18 or over.
  • All Applications must live within Mablethorpe, Trusthorpe and Sutton on Sea generally but, not exclusively within the LN12 postcode.
  • A survival budget will be required to ensure that there is sufficient household income to repay any loans.
  • Experience Enterprise Loans are not in competition with any other mainstream lenders.  If you are able to raise finance through normal commercial sources it will not be eligible for assistance.

 

Identification and confirmation of address

 

Applicants must be permanent residents of the UK or have indefinite leave to remain in the UK.  If a non UK non EU passport is produced evidence will be required that the applicant has permanent leave to remain in the UK and has the right to work.  In these cases loans will only be granted for less than the unexpired term of leave which remains.

 

The following will be required for all loans:-

 

  1. A verified copy of an original full passport or full UK (photo-card) driving licence as confirmation of identification. Please note that the names on the ID documentation and address confirmation must match the client/s name/s as it appears on the loan application.
  2. A verified copy of an original up-to date (not more than 3 months old) utility bill in the applicants name as confirmation of his/her personal address. Mobile phone bill and council tax statements may not be accepted.


Personal Credit Search

 

All applicants must provide a self initiated credit search, not more than 3 months old, for every party to the application through one of the 3 recognised credit reference agencies (Credit, Experian and Equifax).  These can normally be obtained ‘on line’, but paper applications can be made.

 

The credit search you provide will be used to assess, in the Lender’s opinion, your ability to repay the loan. A CCJ registered against an applicant will not necessarily mean a loan will not be approved.  Details of the judgments and circumstances in which they were received will have to be disclosed and discussed with Experience Enterprise Lincolnshire Ltd.

 

Copy Bank Statements

 

Personal Customers – Evidence of a banking facility will be required prior to the approval of a loan.

 

A quotation for goods or services must be obtained prior to loan approval, a receipt for expenditure will also be required


General

Experience Enterprise Lincolnshire Ltd will have the right to refuse any Loan Application.

 

All Applicants will be required to sign a Credit Agreement which falls under the Consumer Credit Licence 1974.  The Experience Enterprise Lincolnshire Ltd will have the right to terminate the loan at any given time should any of the events listed within that Agreement occur.