Coronavirus (COVID-19)

If you are concerned about your business being impacted financially due to coronavirus, we are here to support you.
Guidance and support

Please note, we are not an Accredited Lender for The Coronavirus Business Interruption Loan Scheme (CBILS). Visit The British Bank for more information on the scheme.
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What should I do if I am having difficulties repaying my business loan?

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If you are having difficulties or have concerns about repaying your loan, please contact us at customercare@esmeloans.com to talk about your options.


Are there any restrictions on what I can borrow money for?

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We lend to businesses for a variety of reasons and our loans have been used to buy new equipment, grow teams, purchase stock or bridge cash flow. The only thing we don’t provide loans for is purchasing equity in other businesses.


How do I make repayments?

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Repayments are made by Direct Debit and must be from the same account the loan is paid into. The account from which repayments are made needs to be owned, controlled and in the name of the business applying. Repayments are taken automatically accordingly to your loan repayment schedule, which you can see on your Esme online account. Remember you can make early repayments with no fees!


When do I start making repayments?

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You will make your first repayment one month after you accept your loan. You can see your loan repayment schedule anytime, anywhere on your Esme online account.


Can I overpay?

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Yes you can make an overpayment at any time and you won’t be charged any early repayment fees. If you make an overpayment, any outstanding interest is paid off first, and then the principal. How it works depends on when you took your loan out.

  • If your loan was taken before or on 23 March 2019, your loan repayments reduce every month, meaning the same principal is repaid each month, whilst the amount of interest charged each month reduces.
    If you make an overpayment, it will cover the principal of future payments and these payments will not be taken. Repayments will restart once principal is due again (as per your original schedule). The first repayment will include all interest accrued during the time in which payments are not taken.
  • If your loan was taken from 24 March 2019, your repayments are the same every month.
    If you make an overpayment, you can either choose to:
    • continue on your existing payment schedule, meaning your loan can be paid off early
      or
    • reduce your future repayments and remain on your existing loan term, meaning your payments will be less but the duration of the loan will be the same

How can I make an overpayment?

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You can make a repayment at any time by either a bank transfer or by Direct Debit. The maximum amount you can pay at one time via Direct Debit is up to £51,000. For bank transfer, simply give us a call on 0203 936 4800. For Direct Debit login to your dashboard and select ‘overpay’.

How do I get more information?

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Our Accounts Team are always here to help. You can give us a call on 0203 936 4800 and we’ll assist in whatever way we can.