stw

We are an Equal Opportunity organisation, providing loans for new business ideas and young businesses needing investment. Eligible candidates may borrow up to £15,000 interest free for 9 years to establish themselves in their chosen business or to grow an existing business that has been trading for less than 4 years.

To be eligible for consideration for a loan you must be:

  • over 18 and under 35 years of age when applying
  • resident in Leicestershire or Rutland and wanting to start a business or have run one
    for less than four years
  • going to base or be running the business in Leicestershire or Rutland
  • have a net annual business income of less than £25,000 per annum, after tax and
    drawings
  • have business assets of less than £25,000
  • able to personally demonstrate that the business has the potential to succeed
  • able to demonstrate that you have a real need for the loan and that the project
  • would not proceed without assistance from the charity; meaning that you are able to
    demonstrate insufficient personal funds or credit status to secure the funds required
    from elsewhere.

How it works
You can telephone 0116 2046620, or fill out the contact form on our website. You will need 2 to 4 guarantors for the loan.
Once completed, return the application pack together with your business plan.
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 at least 4 weeks prior to the interview dates.

If successful, you and your guarantors will sign a joint and several bond. This procedure will require 2 guarantors for up to £6,000, 3 guarantors are required from £6,001 to £9,000 and 4 guarantors are required from £9,001 to £15,000.
The loan is interest free for 9 years, but becomes repayable by equal instalments after 3 years.

www.stwcharity.co.uk