The age limit for the government’s Start Up Loan scheme has now been removed, allowing all those over 30 who are starting an enterprise in Swindon to apply for funding directly from Outset Swindon.
Outset Finance, sister company to award-winning Outset Swindon, has been appointed an official delivery partner for the Start Up Loan scheme, and is able to offer low interest loans for entrepreneurs over 30 just starting up or in business for less than 12 months.
The Start Up Loan Company deals typically range from £2,000 to £10,000, filling a big gap for early stage enterprises to buy stock, equip premises or simply to fund those crucial first months.
Bev Hurley, CBE, Chief Executive of YTKO Group, was delighted with the appointment: “Being chosen as a delivery partner underlines our expertise and experience in early stage funding. At Outset Swindon we’ve helped our clients create 60 new firms, and 65 jobs too, but now this money gives us a boost to getting local people out of unemployment, or a dead end job, and into a properly-funded business.”
The Outset Swindon team works with the borrowers so that the loans will be spent wisely, and readies them to start trading profitably and sustainably.
Bev underlines the simplicity of the loan: “Because it’s a personal loan, we don’t have to ask for security or guarantees, but we will fully check the ability to repay, and the robustness of the business. It’s certainly not a handout.”
A comprehensive website, outsetfinance.com, is where entrepreneurs will discover information on eligibility, terms and an online application form.
The government introduced Start Up Loans originally for 18 to 30 year olds, and has loaned more than £60 million to bolster the UK’s economic growth.