The Sir Thomas White Loan Charity [STWLC] has announced that 13 interest-free loans totalling £206,000 were awarded to people within Leicester, Leicestershire and Rutland in the third quarter of 2023 – a new 10-year record allocation amount for the Charity.
Totalling £206,000, the latest sum in interest-free loans is to be utilised to either fund business start-up or development, or postgraduate education.
Ten businesses, including a travel agency, joinery and shop fitting company and a food outlet, are to receive a share of £179,500 in interest-free loans to launch or grow their business.
Meanwhile, three interest-free education loans totalling £26,500 have been approved to support tuition and living costs for postgraduate education, with chosen courses including a Physician Associate Studies MSc and Conservation Studies.
Established in 1542, STWLC hosts quarterly application windows each year in which people aged over 18 and under 45 can apply for unique interest-free loans of up to £20,000 to aid local businesses, or £10,000 to support students wishing to return to postgraduate education. The Charity’s loans are interest-free for nine years, and become repayable by equal instalments after three years.
Lucy Womack, Chair of STWLC, said: “Back in June, we announced that a new 10-year record allocation amount had been set when we approved £182,500 in interest-free business and education loans in the second quarter of 2023. Incredibly, the amount we’ve approved this quarter is even higher, totalling more than £200,000!
“This shows that more and more people are finding out about The Sir Thomas White Loan Charity and the interest-free loans we offer, while also demonstrating the ever-increasing appetite among Leicestershire entrepreneurs and students to grow professionally and academically.
“I’m absolutely thrilled that our support has reached new heights this year. I would encourage anyone interested in launching or growing a business, or returning to university for postgraduate education, to get in touch. We’re here to help!”