We’re thrilled to announce that we awarded 10 interest-free loans to people within Leicester, Leicestershire and Rutland in the third quarter of 2024.
Totalling £141,000, the latest sum in interest-free loans is to be utilised to either fund business start-up or development, or postgraduate education.
Nine interest-free business loans totalling £131,000 were approved to support a variety of local businesses including a travel agency, womenswear boutique, mobile caterer and a consultancy firm, as well as a top-up loan for a current business borrower. These individual loans ranged from £5,000 to the full £20,000 available.
Meanwhile, one education loan to the value of £10,000 was approved to enable a student to complete postgraduate studies at university.
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: “We’re very pleased to be supporting a further nine businesses with our interest-free loans this quarter, as well as helping a student to begin a postgraduate course at university.
“Some people say that not paying a penny back in interest on a loan sounds too good to be true, but I promise, that’s our offer! I’d encourage anyone who is starting a small business to visit our website and read the criteria in full. It could be the best decision you ever make!”
Application packs are available to download upon completion of a contact form on our website – please use the tabs listed above.
The next deadline for applications is 3.30pm on Tuesday 1st October 2024.