MP Bob Seely has welcomed new figures from Start Up Loans, a Government-backed scheme which has now confirmed that 191 loans worth £1,078,580 have been issued to small businesses across the Island.
Start Up Loans was established in 2012 with a mission to help new and early-stage UK businesses access affordable finance and mentoring support. The scheme has had a transformative impact on the lives of thousands of individuals, often those under-represented in the business community.
Bob said: “Support schemes like this will enable businesses to get back on track much more quickly. The more businesses we can help to bounce back from the effects of Covid-19, the more livelihoods we can save.
“I encourage all small business owners on the Island to consider how this scheme could help them to keep their business going through this challenging time.”
Richard Bearman, Managing Director of Start Up Loans, said:
“Government-backed finance for people looking to start their own businesses has never been more important than it is currently. As well as being key to economic growth over the long term, Government support for small businesses around the UK continues to drive investment into the regions.”
As well as finance, every loan recipient is offered a support package, including access to a free expert business mentor for 12 months to help them with every aspect of setting up a business.
For small businesses who need support, please see the free guides on a range of subjects related to starting a business are available on the Start Up Loans website: https://www.startuploans.co.uk/free-start-up-guides/