The Sir Thomas White Loan Charity is encouraging budding young entrepreneurs from Leicestershire to get in touch to help their start-up get off the ground.
The Charity, based at Friars Mill, just outside Leicester city centre, provides nine-year interest free loans of up to £15,000 to people aged over 18 and under the age of 35 wishing to start their own business. Successful borrowers are provided with a three-year break period before equal monthly repayments commence, thus providing a lengthy period for businesses to become fully operational.
Alongside this, existing borrowers may also apply for a ‘top-up’ loan if required to further develop start-ups, whilst established businesses can also utilise the Charity should they require support for expansion, and demonstrate a charitable need for the loan.
In addition to business loans, the Charity also provides graduates with support to help finance post-graduate study, with prospective borrowers able to access up to £6,000 per interest-free loan.
Over the past year, the Sir Thomas White Loan Charity has helped start-up a total of 15 new organisations in Leicestershire, including a vehicle hire company, a cricket coaching school, a film and video company, and a European community support centre.
Following the Sir Thomas White Loan Charity’s most recent round of quarterly applications, a total of £25,000 was provided to help start two new businesses in the city, with a further £52,000 delivered to students wishing to study for post-graduate qualifications. Whilst these figures are pleasing, the Charity itself is keen to deliver more to help talented young people within Leicester.
David Howard, Chair of Trustees at the Sir Thomas White Loan Charity, said: “I’d encourage anybody within Leicestershire thinking of setting up their own business to visit our website or get in touch with us, as we’re dedicated to helping start-ups and helping young people in the county reach their full potential. We’ve helped a number of people become their own boss over the years, and we welcome applications no matter what the industry.
“One of the most rewarding elements of being involved in the Charity is watching businesses grow and become successful, and we’re delighted to say that has been the case for a large number of our borrowers.
“We’re lucky enough to have funds available to lend in order to start new businesses or assist in post-graduate study and hope to see more applications submitted ahead of our next round of interviews with prospective borrowers.”
To request an application pack, individuals should email email@example.com or call 0116 204 6620.
The deadline for the next round of interviews with prospective borrowers is Wednesday 19th October, with interviews taking place in November.