Business Loans

We are an Equal Opportunity organisation, providing loans for new business ideas and young businesses needing investment. Eligible candidates may borrow up to £20,000 interest free for 9 years to establish themselves in their chosen career.

To be eligible for consideration for a loan you must be:

  • over 18 and under 35 years of age;
  • resident in Leicestershire or Rutland and wanting to start a business or have run one
    for less than three years;
  • going to base or be running the business in Leicestershire or Rutland;
  • have liquid assets of less than £40,000;
  • able to personally demonstrate that the business has the potential to succeed;
  • able to demonstrate that you have a real need for the loan and that the project
    would not proceed without assistance from the charity; meaning that you are able to
    demonstrate insufficient personal funds or credit status to secure the funds required
    from elsewhere.
  • where the business is other than a sole trader, control a 50% or greater share of the business for which they are applying for a loan

How it works

    1. You can  telephone 0116 204 6620, or fill out the contact form at the bottom of this page for application details. You will need 2 to 3 guarantors for the loan.
    2. Once completed, return the application pack together with your business plan.
    3. An interview will then be arranged with a small group of Trustees to discuss your business idea. These take place in February, May, August and November. Applications are required at least 4 weeks prior to the interview dates.
    4. If successful, you and your guarantors will sign a joint and several bond. This procedure will require:
      – for loans up to £5,000, 2 guarantors are required each guaranteeing the full amount
      – for loans between £5001 – £10,000, 2 guarantors are required each guaranteeing a maximum of £7,500
      – for loans of £10,001 – £20,000, 3 guarantors are required each guaranteeing a maximum of £7,500 or 2 guarantors each guaranteeing a maximum of £10,000 are required
    5. The loan is interest free for 9 years, but becomes repayable by equal instalments after 3 years.

Register for an application pack today

Simply fill out the contact form below and we’ll send one out to you.

Please check spam/junk folders for any emails from STWLC.

Title* (e.g. Mr/Mrs/Dr)

Full Name *

Email *

Phone number *

Address *

Post code *

Loan amount required (£) *

Business type *

Where did you hear about us?* e.g. social media, poster or referrer - please be specific