Business Loans

Got a brilliant business idea? Need a financial boost to make it happen?

We’re here to help! We offer interest-free loans of up to £20,000 for up to 9 years - giving you the financial runway to launch or grow your business.

No guarantors? No problem!

If you can’t provide the required number of guarantors, you may still be eligible for a loan of up to £10,000 - but only the most exciting and well-planned business ideas will make the cut!

A few things to keep in mind:

  • We’re looking for passion and excellence, so bring your A-game!
  • Guarantors will only be accepted after your application is reviewed.
  • Need help perfecting your business plan? Free expert advice is available - check it out here.

Give your business dream the funding it deserves. Apply today!

Business Loan Success Stories

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ELIGIBILITY

To be eligible for consideration for a personal loan for business purposes you must be:

  • Over 18 and under 45 years of age. Please note you must be under 45 at the time your application is considered at the quarterly board meeting (see key dates for specific date details).
  • Resident in Leicestershire or Rutland and wanting to start a business or require additional funds for growth / expansion.
  • Going to base or are already running the business in Leicestershire or Rutland.
  • Not have received a loan from the charity before for business purposes, where this has already been repaid in full.  If you are a current business borrower you may however be eligible for a top up to your current loan.  If you would like to explore the possibility of a top up to your current loan, please contact us to discuss before making an application.
  • Current education borrowers may, under certain circumstances, convert their loan and borrow additional funds to enable them to set up or develop a business. If you think this may apply to yourself, please contact us to discuss to ensure eligibility before making an application.
  • Able to personally demonstrate the business has the potential to succeed.
  • If eligible, you will be interviewed and at this time you will be expected to justify why you need the loan and how it will help you and your business.
  • Where the business is other than a sole trader, control a 50% or greater share of the business for which you are applying for a loan. We are unable to accept applications where the proposed/actual business structure is a registered Charity or CIC limited by guarantee.
  • Have the right to remain in the UK for the duration of the loan term (9 years).
  • Not have any active CCJs at the time of your application.  If you have CCJs which are satisfied then proof of satisfaction / debt cancelled may be required.

Applicants whose plans are based solely on making sales on the internet:

  • Must demonstrate not only what their trading website will look like, but how they will drive customers to the site, and have satisfactory arrangements for safely handling personal and financial details of their customers.
  • Should be able to provide a clear and comprehensive explanation of the level of sales expected over the first year of the plan, and the method(s) employed to achieve increasing sales.
  • Should note applications with a full year of trading history, which demonstrates the sales growth potential will have a greater chance of receiving a loan offer from the charity.

Have a Question?

Check out our Eligibility & FAQs section.

How it works

  1. You can telephone 0116 204 6620, or fill out the contact form below for application details.
  2. Once completed, return the application pack together with your business plan.
  3. An interview will then be arranged with a small group of Trustees to discuss your business idea. These take place in February, May, August and November. Applications are required prior to specific deadline dates on our ‘Key Dates’ page.
  4. The loan is interest free for 9 years, but becomes repayable by equal instalments after 3 years.
  5. We regret, that in the event your application for a loan is unsuccessful, we are unable to provide detailed feedback.

Register for an application pack

Simply fill out the contact form below and we'll send one out to you.

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No problem! You can withdraw consent anytime by emailing info@stwcharity.co.uk. If you have any questions, just give us a call on 0116 204 6620.