A total of six businesses in Leicester, Leicestershire and Rutland are set to benefit from interest-free loans provided by The Sir Thomas White Loan Charity, following the most recent meeting of the charity’s Board of Trustees.
One of Leicester’s oldest charities, The Sir Thomas White Loan Charity, which was established in 1542, provides interest-free business and education loans to people aged over 18 and under the age of 45 within Leicester, Leicestershire and Rutland.
Applicants are required to complete an application form and, in the case of business loans, a business plan template, with shortlisted submissions then invited to an interview with three trustees to discuss either their business or plans for study at postgraduate level.
Following the latest quarter’s deadline for applications, a total of £62,500 was approved in interest-free loans to help business ventures in the county through self-published work and gym maintenance and repair, in addition to an estate agency.
Meanwhile, a further seven loans, totalling £60,500, were approved to aid the funding of a MA in Performance Design, MA in National Security Design and the Legal Practice Course.
Those successful applicants will now be able to access their loans, which remain interest-free for their full duration, and will be able to enjoy three years before equal monthly repayments commence – by which time it is hoped that businesses will have grown and studies have led to career positions.
David Howard, Chair of Trustees at The Sir Thomas White Loan Charity, said: “It has been a hugely challenging year for everybody, so we’re pleased to have been able to approve a number of loans which will hopefully provide support to businesses and individuals eager to make progress on their chosen career paths.
“With our final quarterly deadline approaching, I’d encourage any business in particular that has been affected by the impact of COVID-19, to take a look at The Sir Thomas White Loan Charity’s offering. Our loans are unique to people in Leicestershire and Rutland – and the terms are infinitely better than any Government support or loans available at banks and building societies.
“We want as many businesses in our county to recover – and we feel that if borrowing is necessary, people should consider borrowing from us; a charity that provides three years before you have to pay anything back and that remains interest-free to reduce unnecessary additional costs and pressure to immediately repay.”
The Sir Thomas White Loan Charity’s next deadline for applications is 3.30pm on Thursday 1 October 2020.
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