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Ten Interest-Free Loans Approved by STWLC This Quarter

Ten Interest-Free Loans Approved by STWLC This Quarter

The Sir Thomas White Loan Charity, based in Friars Mill in Leicester city centre, is delighted to announce that a total of ten interest-free loans were approved this quarter, totalling £99,190.

Providing nine-year interest-free loans to assist business start-up or development in Leicestershire and Rutland, alongside loans on the same terms for students requiring financial support to study for post-graduate qualifications, The Sir Thomas White Loan Charity’s latest figure takes the grand total approved this calendar year to £211,555.

Of the ten loans approved, four – totalling £47,940 – will be used to establish or progress young businesses within the county. Organisations that the funding will benefit include a design and print company, a dance studio, a hairdresser and a media production company; once again highlighting the diverse industries that the Charity’s support aids.

A further £51,250 was approved in education loans, which will enable six students to continue their academic journey at a university of their choosing anywhere in the world they’re wishing to study. Courses to be completed by successful education loan applicants this quarter include a MSc qualifications in Psychology, International Management and Economics.

All of The Sir Thomas White Loan Charity’s loans remain interest-free for a nine-year period, with equal monthly repayments commencing three years after the loan has been taken out, providing businesses in particular to make progress ahead of having to commence returning funds.

David Howard, Chair of Trustees at The Sir Thomas White Loan Charity, said: “This has been a very pleasing quarter for the Charity, which aims to provide support in the form of interest-free loans to as many people aged over 18 and under 35 within Leicestershire.

“The total for this quarter represents an increase of around £35,000 approved compared to that delivered in the last quarter, so it is pleasing to know that more people are becoming aware of the funding that is available from The Sir Thomas White Loan Charity.

“We’ve still one round of interviews with prospective borrowers remaining in 2017, so I’d encourage any student coming to the end of their undergraduate course wishing to continue studying, or entrepreneur focused on becoming their own boss, to visit our website to find out more and to get in touch to request an application form.

“Whatever the business idea, whether it’s a creative concept or something more traditional, we’d love to hear from you to find out more about your concept. If it’s accompanied by a well thought-through business plan, a template for which is provided as part of the application pack, you can be sure we’re keen to support it.”

The deadline for the final round of interviews with prospective borrowers is Monday 9 October, with interviews taking place at Friars Mill on 6, 7, 8 and 14 November 2017.

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