Start-Up loans for young business people to be delivered by Bury St Edmunds company

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Foundation East in Bury St Edmunds has been chosen to deliver StartUp Loans.

StartUp Britain and the Department of Business Innovation and Skills launched the loans.

Katy Ford from Foundation East said it already helps start-ups who cannot get bank funding.

“StartUp Loans fits in perfectly with our current work,” she said.

The loans are available to 18-24 year-olds looking to start their own business.

Applicants work with a business mentor and can get a loan of about £2,500 with an interest rate of six per cent for a maximum of five years.