Two budding entrepreneurs from Leicestershire have been provided with the financial support to start up new businesses within the county, thanks to business loans provided by the Sir Thomas White Loan Charity.
The Charity, which provides interest-free loans of up to £15,000 to people aged over 18 and under 35, approved loans totalling £18,000 to assist with the setup of the two new businesses, following the most recent quarterly round of interviews with prospective borrowers. The two successful applicants will now be provided with a three-year period to get their businesses up and running, before commencing equal repayments over the following six years with no interest to pay.Sophie Hewitt, of Melton Mowbray, will be utilising her business loan to develop her beauty salon; developing it to also become a day spa for clients. Sophie said:
“I would like to say a massive thank you to everyone at the Sir Thomas White Loan Charity. After finding out about being accepted for this incredible business loan, I couldn’t be more excited. I now have the opportunity to progress my current beauty salon, by expanding into a mini day spa.
“Needless to say initial funding for any small business can be difficult to come by, but the Sir Thomas White Loan Charity has just made my plans become a reality, and for that I will be forever grateful!”
The second business loan provided in September will be used to develop a company offering tuition to students studying for exams.
In addition to the £18,000 provided to business borrowers, a total of £145,000 was provided to 22 students applying for the Sir Thomas White Loan Charity’s education loans, which provide financial support to students working towards post-graduate qualifications.
Peter Carlill, one of the 22 successful education loan applicants, said: “’The loan will provide me with a fantastic opportunity to gain a Masters’ degree, thus giving me a solid foundation on which to build a successful career in my chosen field.
“Without the help of the Sir Thomas White Loan Charity and given my current circumstances, I would not be able to even contemplate undertaking such a qualification. The Charity has therefore enabled and empowered me to develop myself professionally, and I am most grateful to the Trustees who have made this a reality for me.”
The Sir Thomas White Loan Charity’s next round of interviews with prospective borrowers take place on 2nd, 4th, 5th and 10th November 2015, with application forms to be submitted by 10th October at the latest.
For more information and to request an application pack, please CLICK HERE.