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Here is an overview of three sources of start-up financial support and mentoring available from charities, and their respective criteria.

 

The Prince’s Trust Enterprise Programme

The Enterprise Programme is for those aged 18-30 and currently unemployed or working fewer than 16 hours a week. Through the programme, they can provide low interest loans up to £7,500 and can also provide small grants to test young people’s business idea.

An overview of the process is as follows:

  1. Meet the team: an introductory discussion to explore the programme and its suitability
  2. Start-up workshop: a free four day workshop to discuss practical elements of running a business
  3. Building: direct one-to-one support to discuss practical details and writing a business plan
  4. Launch: approval from the Business Launch Group to access mentor and financial support if needed

Please click here for further information or complete this enquiry form

Tel: 0800 842842

 

Sir Thomas White Charity

Sir Thomas White (STW) Loan Charity provides loans for new and young businesses needing investment. Eligible candidates can borrow up to £15,000; loans are interest free for 9 years, repayable by equal instalments after 3 years.

Criteria:

    • over 18 and under 35 years of age
    • Looking to start a business or have run one for up to three years; trading in Leicester, Leicestershire and Rutland
    • 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.

Further information: http://www.stwcharity.co.uk/business-loans/

Tel: 0116 2046620 and speak to Barbara Amos or Email: info@stwcharity.co.uk

 

 

Harry James Riddleston Charity of Leicester

The Charity can lend up to £10,000 to start or expand a business.  Loans are interest free for between 5 and 10 years.  They are available to eligible candidates who are over 18 and under 35 years of age who reside in Leicestershire or Rutland with locally based businesses.

To apply, candidates must request an application pack by calling, or completing the details on the Contact us page of their website.

Further information:  http://www.harryriddleston.org.uk

Tel: 01858 463322 or to Email Click Here