FOR IMMEDIATE RELEASE
From today, Santander will provide second-phase funding to Start Up Loan businesses that have shown growth and promise, with a minimum of 6 months of trading. Each entrepreneur can apply for up to £25k, with Santander relaxing the lending criteria for Start Up Loan entrepreneurs, as part of their continued contribution to the growing economy and the promotion of enterprise.
This partnership highlights the success of the Start Up Loans scheme which, in 11 months, has provided funding and mentors to over 8,000 entrepreneurs in every sector, across all regions in England and Northern Ireland.
Start Up Loans has grown significantly since its inception a year ago, starting 30 businesses daily. The Chairman of Start Up Loans, James Caan comments: “Second-phase funding from Santander recognises the great progress the Start Up Loans Company has made in stimulating entrepreneurship and start-ups in this country. Their commitment enables our entrepreneurs to graduate into the more traditional lending routes, previously closed off to young budding entrepreneurs, demonstrating the powerful role that Start-Up Loans play in creating a new generation of entrepreneurs.”
Of the new partnership, Steve Pateman, Head of UK Banking at Santander, says: “Start Up Loans are providing exceptional advice and guidance to entrepreneurs, and by partnering with them we are able to provide second-stage funding to start ups, making finance more widely available to small businesses. This helps us bridge the funding gap that many entrepreneurs encounter and
supports our aim to be the banking partner of choice for businesses.”
We are a government funded organisation that provides loans and mentors for entrepreneurs across England, Wales and NI. We are starting 40 businesses every day and are set to kick start 60,000 businesses by 2016. We attract all business types, from plumbers to apps, fashion labels to cookies. You name it we've funded it! We are particularly focused on helping olderpreneurs come forward to access the finance along with returning mothers.
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