Wiltshire Council is working with the Fredericks Foundation and GWE Business West Limited to deliver loans to viable small and micro businesses in Wiltshire which cannot gain access to credit through the banking system. ‘Fredericks Wiltshire’ was launched at Hartham Park in June 2010. Funding has also been secured from Action for Wiltshire, which is the Wiltshire Assembly's programme of support to tackle the effects of the recession in the county and prepare for economic recovery. It is made up of a group of organisations, including Wiltshire Council, working together to build a brighter future for Wiltshire. The Fredericks Foundation is a charity dedicated to supporting small-scale enterprise by providing loan finance where banks are unable to help and is a member of the Community Development Finance Association.
Will you be able to apply for a loan?
The first thing you will have to demonstrate is that you have made a genuine application for funds to your bank or a mainstream lender – and that you have been turned down. Your business can be at any stage: you may require money to start-up; capital to expand your business; or funds to bridge a gap. Whether you are a sole trader, in a partnership, or have a limited company, you will be considered for a loan. For start-up businesses loans are available up to a maximum of £10,000, athough our average loan is less than £5,000. For established businesses with a financial track record the maximum loan is £20,000.
Business volunteers wanted
Fredericks Wiltshire operates at a low-cost base, so that it can get as much money out to clients as possible. Consequently, it relies on local volunteers to help make the lending decisions, raise the profile, mentor our clients and raise further funding. If you would like to help, please contact us.
Investments and donations
If you are, or your business is, interested in investing in Fredericks Wiltshire, there are tax benefits for individuals and companies worth up to 25% of the value of the investment, spread over five years and starting in the year the investment is made. Any financial investments or donations made to the Fredericks Wiltshire operation stay in the county. Full details of the CITR scheme can be found on the HMRC website www.hmrc.gov.uk. Please contact Fredericks if you are interested. Like donations, your investment can be ring-fenced for use in the county.
For more information
To talk through any aspects of Fredericks Wiltshire, or to volunteer your services, please contact:
Terri
Stevenson or Tim King Fredericks Wiltshire
Great Western Enterprise House
Emlyn
Square
Swindon
SN1 5BP
Telephone: 01793 69802
terri@fredericksfoundation.net or tim@fredericksfoundation.net
Last updated: 9 February 2012
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