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.
From festive foundations, Melton-based Incredible Pies has established a reputation for delivering a wide variety of tasty treats, suitable for satisfying even the toughest of sweet teeth – with The Sir Thomas White Loan Charity playing a small part in the company’s growing success.
Established by Pete and Rob Sharpe, who applied for an interest-free business loan from the Charity in order to develop his start-up, Incredible Pies has now gained a strong customer-base following its presence at food events in Leicestershire and beyond.
The Sir Thomas White Loan Charity, based at Friars Mill (pictured) in Leicester, has adjusted a number of its terms and conditions so as to make it easier for applicants to obtain one of the Charity’s interest-free business and education loans – in some cases approving selected applicants unable to meet the guarantor requirements in full.
In addition, applicants may borrow an improved sum in order to support business start-up or development, or post-graduate study.
One of the county’s oldest charities, named after one of Leicester’s most generous benefactors, Sir Thomas White – who features on the city’s iconic clock tower, The Sir Thomas White Loan Charity provides loans to people aged between 18 and 35 to establish new businesses within Leicestershire and Rutland, in addition to smaller sums to support the cost of continuing studies for a post-graduate qualification.
Business loan applicants may now borrow up to £20,000 to assist with either a start-up project or to take a developing business to the next level. This move is a £5,000 increase on the total sum a business loan applicant could previously apply for.
Alongside this, the Charity has increased the total sum an education borrower may take out as an interest-free loan, with the new £10,000 figure a £4,000 increase on the previous maximum of £6,000.
The Sir Thomas White Loan Charity is delighted to announce a total sum of £87,500 of interest-free loans were approved, following the Charity’s final round of interviews with prospective borrowers for 2016.
The figure from the final quarter takes the grand total delivered in loans for the year to an impressive £375,000.
One of Leicestershire’s oldest charities, the Sir Thomas White Loan Charity – based at Leicester’s Friar’s Mill – provides people aged over 18 and under the age of 35 with business and education loans, which are interest-free over a period of nine years.
Two budding entrepreneurs from Leicestershire have been provided with the financial support to start up new businesses within the county, thanks to business loans provided by the Sir Thomas White Loan Charity.
The Charity, which provides interest-free loans of up to £15,000 to people aged over 18 and under 35, approved loans totalling £18,000 to assist with the setup of the two new businesses, following the most recent quarterly round of interviews with prospective borrowers. The two successful applicants will now be provided with a three-year period to get their businesses up and running, before commencing equal repayments over the following six years with no interest to pay.