Terms & Conditions
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The competition is open to any existing or new start company (sole trader, partnership or limited company) which fulfils the following conditions
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Sells products or services to other businesses
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Is based within 40 miles of Birmingham
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Has a major shareholder or partner/owner who is under 40 years of age
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The winning entrant will be offered and required to sign a standard Skipton Business Finance Factoring Agreement which will be free of all service and discount charges over a one year period.
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This agreement will have a set funding limit of £150,000. If the winning entrant requires a higher funding limit this will be available by negotiation on special advantageous rates.
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All entrants agree that their company names and general company details may be used by SBF for marketing purposes connected to the competitions promotion.
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After the initial first year the winner will have the opportunity to continue with the factoring arrangement. However the funding will then be on a standard commercial basis, albeit at special rates that will be negotiated at that time. There will be a 1 month notice period during the first year.
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To be considered an applicant must complete a business outline and agree to a on-site meeting with a Director or Senior Executive from Skipton Business Finance who will discuss the application in full detail and carry out a short due diligence review of the business. Based on the business outline and this visit a shortlist of 3 companies/individuals will be selected to present their business to the judging panel.
All decisions of Skipton Business Finance are final in all aspects of this competition.
By agreeing these Terms & Conditions you:
Certify that there are no bankruptcy petitions, proposed voluntary arrangements, receiverships, winding up orders, judgements or writs threatened against the company or its directors.
Authorise Skipton Business Finance Ltd to carry out any credit checks or other searches it deems necessary of any shareholder, director or officer in the company.
Certify that the information you have provided is correct to the best of your belief, and that you understand it will be treated in the strictest of confidence.
For the purposes of the Data Protection Act 1998, Skipton Business Finance Ltd will act as data controller for information held about individuals. Information pertaining to individuals will be held for credit assessment purposes and for the ongoing administration of the account and after the closure of the account for statutory, regulatory, accounting, auditing, or other lawful requirements.
If the proposal does not progress then information will be held for a period not exceeding 12 months.
You can request in writing upon payment of a fee, details held about you by Skipton Business Finance Ltd and where necessary correct information held about you.