The Sir Thomas White Loan Charity has once again demonstrated its commitment to developing businesses and individuals within Leicestershire and Rutland, through the quarterly approval of 16 interest-free loans, totalling £117,000.
Of this figure, £57,000 will be used to start up or develop businesses within the county. Five business loans will be used to help get new companies up and running, whilst an additional loan was approved to help develop the construction business of an existing borrower.
Meanwhile, loans approved following the Charity’s latest round of interviews with prospective borrowers will develop a new hair and beauty salon, a t-shirt print designer, an online information directory, an IPL and beauty clinic, and a brand-new fashion label.
One of the oldest charity’s within the county, the Sir Thomas White Loan Charity’s foundations stretch back to 1542. Based within the main De Montfort University campus, the Charity provides business and education loans to people aged over 18 and under 35 within the county. The loans are interest free for a period of nine years, and borrowers have three years before they commence making set monthly repayments.
Business borrowers may borrow up to £15,000, whilst loans for education borrowers, to help fund post-graduate study, are available to the sum of £6,000.
£60,000 was provided to 10 education loan borrowers, who will now be able to continue their studies to obtain new qualifications.
Hugh Stevenson, Chairman of the Sir Thomas White Loan Charity, added:
“All 16 individuals to apply for a business or education loan ahead of our latest round of interviews were approved for a loan. This not only highlights the potential of so many individuals in our county, but the Sir Thomas White Loan Charity’s intent to provide support wherever we can.
“We wish each borrower the best of luck in their next steps, whether that be the opening of their business or the start of the new academic year, and will look to stay in touch to help them progress.”
The Sir Thomas White Loan Charity is welcoming new applications ahead of their next round of interviews with prospective borrowers, which take place in August.