The StartUp Loans scheme for 18-30 years-olds, administered for the North East and Cumbria by Project North East (PNE), is now operational.
The StartUp Loans scheme for 18-30 years-olds was announced by the Government’s Department for Business, Innovation and Skills (BIS) in the 2012 Budget. The loans are funded by Government and administered for the North East and Cumbria by Project North East (PNE), who will provide participants with ongoing business mentoring. The initiative will enable young people who choose not to go to university to access low interest loans for starting up a business.
Loans of up to £25,000 are available. Applicants are required to pay back the loan within three to five years at a fixed interest rate, currently 6% APR.
Applications for financial and mentoring support may be made at any time.
Click on the following link to to visit the StartUp Loans North East website for further information http://www.startuploansnortheast.co.uk/ (opens in new Window)
Source: startuploansnortheast, 14/02/2013