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Over £180,000 Approved In Interest-Free Loans

Over £180,000 Approved In Interest-Free Loans

The Sir Thomas White Loan Charity, based in Friars Mill, Leicester, has revealed that a grand total of £185,420 was approved in interest-free business and education loans in the Charity’s final quarter of 2017.

Of that sum, £124,100 is to be used to help 10 entrepreneurs start up or develop businesses within Leicestershire and Rutland, whilst a further £61,320 will be delivered to enable eight students to continue their studies at postgraduate level.
The latest figure takes the total sum approved in interest-free loans for 2017 to £388,975; aiding the development of 21 businesses and the personal progression of more than 15 students continuing their studies.

Businesses benefiting from the Charity’s support in the latest quarter include a mobile caterer, web development set-up, two language tuition providers, an optician and a home interior/design company.

One of Leicestershire’s oldest charities, The Sir Thomas White Loan Charity provides business loans of up to £20,000 and education loans of up to £10,000, to people aged between 18 and 35. The loans are completely interest-free for nine years, with equal monthly repayments commencing three years after the loan has been taken out. Whilst all businesses must be established within Leicestershire or Rutland to be eligible for a loan, education loan applicants can use funding to study anywhere in the world.

David Howard, Chair of Trustees at The Sir Thomas White Loan Charity, said: “We’re incredibly pleased to have been able to deliver such a fantastic sum in our final quarter, a great way to end 2017. There’s a wide range of businesses that will benefit from the support available from The Sir Thomas White Loan Charity, showcasing the fact that we’re happy to help any business idea, provided that the applicant has a solid business plan in place.

“With the New Year approaching, it’s a time when many people think about setting up their own business and becoming their own boss. I encourage anybody, aged between 18 and 35, thinking of taking the leap in 2018, to get in touch and find out more, with our first deadline for applications being in January.”

For more information about The Sir Thomas White Loan Charity’s business loans, please click here or click here to see more about the Charity’s education loans. Alternatively, please click here register for an application pack.