london,
16
May
2016
|
15:32
Europe/Amsterdam

Funding worth 2 million available for young entrepreneurs

Over £2.1m worth of funding is available through low-interest loans of up to £50,000 to budding entrepreneurs and new start-ups across London and the Home Counties.

The Samuel Wilson’s Loan Trust is a charitable organisation, operated by the City of London Corporation, which grants loans to younger people, for establishing and developing new businesses.

Loans of up to £50,000 are now available to young entrepreneurs to start or grow their business.

Applicants may be eligible to apply if:

  • You plan to or are currently trading in London, Buckinghamshire, Essex, Hertfordshire, Surrey, Kent, West and East Sussex
  • Aged between 18 - 40
  • You have been trading for less than three years
  • You have a business bank account
  • You have the right to live and work in the UK

Alderman Gordon Haines, Chairman of the Samuel Wilson Loans Trust said:

“The Samuel Wilson Loans Trust helps SMEs and young entrepreneurs in London and the Home Counties, providing them with a simple way to raise money.

“Starting your own business can be financially challenging and almost out of reach for many talented and ambitious young people.

“Small and medium-sized enterprises are a major contributor to the UK economy, driving growth and employment. The low interest repayments are what make this loan a realistic and safer alternative to other financial products on the markets – and that is key to supporting UK enterprise and small business growth”.