Foundation East is the main delivery partner for the START UP Loan Scheme in the Eastern Region.
The START UP loan scheme is an opportunity for those who wish to start up a business or have been trading for less than one year who cannot obtain funds for their business through mainstream lending.
The scheme is currently available only to people 18-30.
The main benefits of the START UP Loan Scheme are:
– Loans of up to £10,000 to businesses with viable business plans at an interest rate of 6% per annum (6.19% APR);
– The funds can be borrowed over a maximum period of 5 years with up to 1 year interest only;
– Support is available to help with the completion of the business plan and the cash flow forecast;
– Mentoring support is available for the lifetime of the loan; and
– A variety of promotions and discounts are available to successful applicants.
The Foundation East START UP Loans Team can be contacted on 01284 757772