Enterprise Northern Ireland is delighted to announce that it has been approved as a Delivery Partner for the Start Up Loans scheme across Northern Ireland.
The scheme provides unsecured loans of up to £10,000 to people who are starting a business or have started a business within the last 12 months. As well as access to loan finance there is also access to post loan mentoring support which will guide the entrepreneur through the first 12 months of trading.
In announcing the scheme was coming to Northern Ireland Vince Cable said:
“Northern Ireland has one of the youngest populations in Europe so it’s vital we encourage young people to back themselves to succeed. This welcomed extension will encourage even more young people to be entrepreneurial with access to finance, as well as professional mentors who can offer knowledge and expertise about how to run a successful enterprise.”
“The Start-up Loan scheme has gone from strength to strength during its pilot in England with 5,000 loans worth £26m already committed. The lack of an established credit history is a barrier for young people looking to access business finance. I hope Start-Up Loans will help many budding entrepreneurs in Northern Ireland.”