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Over £100,000 Provided to Borrowers by Charity

Over £100,000 Provided to Borrowers by Charity

The Sir Thomas White Loan Charity (STWLC) is delighted to announce that an incredible £111,000 was provided in interest-free business and education loans this month, to 22 people aged over 18 and under 35 from Leicestershire and Rutland.

Working to enhance Leicestershire’s economic climate, the Sir Thomas White Loan Charity provides loans to young people from the county, which are interest-free for a period of nine years, and repayable by equal monthly instalments after three.

Prospective business borrowers may apply for a loan of up to £15,000 to assist with start-up costs, whilst under-graduates may apply to borrow up to £6,000 to aid the cost of post-graduate study.

STWLC host quarterly interviews of applicants by the Charity’s trustees at their De Montfort University-based offices, with the most recent interviews held in mid-November. Loans were later approved at the Charity’s most recent board meeting, which was held on Monday 1st December.

Of the sum of £111,000, three new business loans, totalling £26,500, were approved, providing individual cash injections of £2,500, £9,000 and £15,000 respectively to help get new businesses started within the county.

The remaining £84,500 was provided to 16 successful education applicants, who will now look to maximise their potential through post-graduate study across institutions worldwide.

Hugh Stevenson, Chair of the Sir Thomas White Loan Charity, said:

“December’s figure is another pleasing amount that we are delighted to be able to provide to young people across Leicestershire and Rutland with. Listening to our applicants’ ambitions is always enjoyable, and we hope that their interest-free loans go a long way to realising those ambitions.

“Our next round of interviews will take place in February. Therefore, we encourage anybody looking to become their own boss in 2015, who possess a solid business concept, to get in touch with us and register for an application pack and business plan template. We love helping businesses get off the ground and hope that we can put people from the county on track for a prosperous New Year.”

The Sir Thomas White Loan Charity’s next round of interviews take place on Monday 2nd February, Wednesday 4th February, Thursday 5th February and Tuesday 10th February.

The deadline for all borrower applications is Monday 19th January, although applications submitted later may be considered.