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Charity Delivers Eight Interest-Free Loans in Opening Quarter

Charity Delivers Eight Interest-Free Loans in Opening Quarter

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.

An addition £14,325 was approved to help progress the career prospects of two borrowers, who will study for Masters degrees in health psychology, economics, and finance.

All borrowers will benefit from the interest-free loans that include a three-year grace period before equal monthly repayments commence for the remaining six years.

The Sir Thomas White Loan Charity’s Chair of Trustees, David Howard, said: “Congratulations to each of the applicants that were successful in their application for an interest-free loan. Every trustee wishes borrowers the best of luck in their respective ventures and we look forward to monitoring their progress in the coming years.

“Our next application window is currently open, with the deadline for all applications being Monday 1 April 2019. We want to be able to offer more young people in Leicestershire and Rutland the funds to be able to get their businesses going – or give them the opportunity to study in their respective field. With a small amount also available in special loans, for applicants who may not necessarily have the necessary guarantors, there is absolutely no reason not to apply.

“Business applicants can also benefit from free professional support developing their business plans and financial forecasts, courtesy of our partners. We’re not a bank. We don’t charge any interest. What you borrow is exactly what you pay back, so don’t miss out on this fantastic opportunity available to people in Leicestershire.”

Please click here for more information on our business loans, or here for details on our education loans.