STWLC Provide £136,000 in Interest-Free Loans this Quarter

STWLC Provide £136,000 in Interest-Free Loans this Quarter

The Sir Thomas White Loan Charity has announced the latest figure approved to people in Leicestershire aged between 18 and 35, with £136,374 provided in nine-year interest-free loans following the Charity’s most recent round of interviews with prospective borrowers, which were held in February.

15 individual loans were approved earlier this week, with seven set to be utilised to establish new businesses within the county. Among many new start-up ventures, the Sir Thomas White Loan Charity is to assist in the start-up of a new health-care provision in Leicestershire, a gym, fashion jewellery and accessory retailer, a fast food takeaway outlet and a business exporting electrical goods.

In total, £89,000 was provided across the seven successful business loan applications, which allow borrowers to take out a loan to the value of £15,000 or below, to assist business start-ups in any way.

Alongside the figure delivered to budding entrepreneurs, a further £47,374 has been approved in the form of education loans, allowing recent graduates the ability to further their education through supporting the cost of post-graduate studies.

The total is the first delivered to borrowers in 2015 and follows on from the Sir Thomas White Loan Charity covering Leicestershire receiving a distribution cheque of £226,000, from the main charity’s Coventry base, to be issued to successful applicants.

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

“We’re delighted to be able to provide over £136,000 in interest-free loans following our first round of borrower interviews of 2015. This month’s figure is an increase of £25,374 on last quarter’s total sum approved; an encouraging sign of people eager to enhance enterprise within Leicestershire.

“I’d like to wish all successful loan applicants the best of luck in their respective ventures and look forward to looking over applications ahead of next quarter’s interviews.”

The Sir Thomas White Loan Charity is now welcoming applications for business and education loans ahead of their next round of interviews, which take place in May. The closing date for applications is Friday 10th April. For more information on both business and education loans, including eligibility criteria, please CLICK HERE.