Rosebud Micro

Got a good idea for a business and need money to help sow the seeds?

Or are you already running a business but need to help to grow and develop?

Rosebud Micro is a new loan fund aimed specifically at small businesses with growth potential.

If you are a new or expanding business operating in Lancashire, we can offer loans from £2000 to £10,000. This product provides a competitive rate of interest, currently 4-8 % above the Royal Bank of Scotland Base Rate and is available for an administration fee of 2.5% of the loan.

Benefits of Rosebud Micro include:

• No penalty for early repayment
• Repayable over 5 years
• We will fund 100% of the requirement under certain circumstances
• A bad credit history will not necessarily be a barrier to getting the loan*

To increase your chances of successfully securing a loan, you will need to demonstrate an ambition to grow beyond a 'lifestyle business'. We are particularly keen to hear from businesses in our key growth sectors of aerospace, advanced manufacturing, creative and digital, energy and environmental and financial and professional.

*We ask that customers disclose any credit issues and failure to inform us of a bad credit history will mean that the application is rejected.

Rosebud Micro Case Studies

Friendtrend

Fashion has long allowed people to create a personal statement about themselves, and through social media, one entrepreneur, Tony Smith, believes he can take this a step further. He developed Friendtrend, a fashion driven network and a new concept in social networking. Tony said:

"It gives people the opportunity to share with their friends and the world their favourite trends and styles and showcase their individual fashion sense and their favourite shops and brands. The idea is to encourage our user-base to upload pictures of themselves to our website creating a gallery on their profile. Other users can then browse through these profiles and discover new brands and shops and gather ideas.

"I was signposted to Orvia who really liked my idea and helped me to get a loan of £5000 from Rosebud Micro to continue developing my online marketing campaign and support initial operating expenses until the business developed an income stream. Getting this loan has allowed me to concentrate on my future plans for the business which include the launch of the Friendtrend website and the development of a mobile phone app allowing people to update their profiles whilst on-the-go".

LumbaCurve Back Pain Therapy

LumbaCurve is a patented, simple to use back pain therapy product designed to bring lower back pain relief. Fledgling Accrington based company, LumbaCurve International was set up in January 2010 to produce and market LumbaCurve, which had be developed over several years with a Dutch based acupuncturist, to address the issue of lower back pain brought about by poor posture in the workplace, or lifestyle.

Company founder David Pegg said: “We already had a production version of LumbaCurve which had received good reviews from trials, but the manufacturing process was too costly to allow us to offer the product through distribution channels. A solution was found in the form of a much cheaper manufacturing process, but the stumbling block was financing the cost of the production tooling.

Saviour came in the form of Rosebud. I submitted a loan application together with a comprehensive business plan, and was delighted to have the application quickly accepted. I see the Rosebud Micro Loan as a major turning point for LumbaCurve. We can soon offer the product to distributors, and now respond to enquiries that we have already received from Spain and Norway. I’m now very optimistic about the future.”

Ash Law

Ash Law is a friendly professional firm based in Preston offering quality legal advice to all its clients, specialising in Family Law, Wills & Probate, Immigration and Powers of Attorney. Set up by experienced solicitor Aisha Hussein Recently, Ash Law has recently achieved the Polaris Business of the Month Award 2011.

Aisha said: “During my research stage, I considered my finances and realised I had enough to set up my own practice as a sole practitioner. However, due to external circumstances beyond my control, unnecessary delays occurred resulting in my finances being used even before the business got off the ground. As there was no revenue coming in to offset the money being paid out, I began to consider alternative avenues of support. The Rosebud Micro loan has provided a safety net for the business in terms of working capital, particularly as there was an initial delay to get the business started which affected my finances and cash flow projections. The speed with which the loan application was dealt with is also to be commended as well as the competitive rates offered. My intentions are to develop the business and grow the practice, to encompass various departments and move the office to a high street premises.”