The Sir Thomas White Loan Charity is pleased to announce that a total of £93,705 has been approved in interest-free loans to young people within Leicestershire and Rutland, at the end of the charity’s first quarter of 2019.
One of the oldest charities in the county, The Sir Thomas White Loan Charity, named after the wealthy benefactor forming part of the city’s historical Clock Tower, provides people aged over 18 and under-35 with interest-free loans to help start or develop businesses within the county, or to fund postgraduate study anywhere in the world.
Following March’s meeting of the charity’s Board of Trustees, a total of six interest-free business loans, totalling £79,380, were awarded to help fund ventures including a vegan caterer, illustrator and security provider.
In the second instalment of our exclusive blogs with Sir Thomas White Loan Charity trustees, Lucy Womack provides insight into the charity’s quarterly meetings, which determine whether a borrower’s application has been successful, and the inspiration felt come the meeting’s close…
Despite it being quite common, I’m always amazed at how inspired I feel coming away from my involvement with The Sir Thomas White Loan Charity. It’s at this time that I feel so enthusiastic about working with an incredible charity that makes such a huge difference to young people in the county.
Okay, a little context needed; I understand. Last week, I spent an afternoon at one of the quarterly trustee meetings, where all 18 of us sit to discuss a host of matters involving the charity – not just our interest-free business and education loans.
Representatives from Leicester’s The Sir Thomas White Loan Charity visited St John’s College in Oxford in recent weeks, to attend the main Sir Thomas White Charity distribution lunch; an event which sees funds distributed to individual charities under the Sir Thomas White banner.
In itself, St John’s College is a fitting venue for the event. Founded in 1855 by Sir Thomas White himself, the college was originally established as a men’s college – but has been coeducational since 1979.
Anybody that has started their own business will understand the importance of forming a strong business plan.
It’s more than a document; it’s a guide that can help you keep on track when the unexpected happens and one that can be altered at different stages, to ensure you take the unexpected into account moving forward.
That’s why producing – or developing – a business plan is a key part of the application process for anybody wishing to take out an interest-free business loan from The Sir Thomas White Loan Charity.
With the loans we provide being so unique – we want to ensure that the investment provided is to a start-up or young business that has a clear direction, or to a prospective business owner that has done the research and planning to back up their concept. But it goes way beyond us.
A business plan enables YOU to evaluate where you are in terms of starting a business. It allows YOU to be able to see where your strengths and weaknesses are. It enables YOU to be able to set realistic goals.
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 Sir Thomas White Loan Charity has announced that over £500,000 has been provided in the form of nine-year interest-free business and education loans in 2015; the highest total approved during a calendar year in the Charity’s history.
Following the latest round of interviews with prospective borrowers, in which a total of £144,455 was approved by the Charity’s Trustees across 23 applicants, a total of 20 new businesses have been provided with the funds required to assist start-up projects within Leicestershire, whilst a further 59 loans have been delivered to students wishing to continue studies beyond undergraduate degrees.
Becoming their own boss is a lifelong dream for a lot of people. It certainly was for Becky Owen and Fay Hooper and, thanks to the Sir Thomas White Loan Charity, the creative duo are now successfully running The Sewing Café in Hinckley.
The Sewing Café is described as ‘the social sewing emporium’, providing avid sewers with a place to purchase supplies and enjoy their pastime in a bustling environment with like-minded hobbyists. The café hosts workshops, parties, classes and customers can even pay to sew by the hour throughout the day.