Fredericks Foundation Launches £2m Fund for Women Entrepreneurs

Discussion in 'Press Releases' started by Peter kelly, Oct 12, 2017.

  1. Peter kelly

    Peter kelly UKBF Newcomer Free Member

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    Fredericks Foundation has launched - a £2 million fund available to disadvantaged women with a viable business plan who want to launch a new business or need support to develop an existing one.

    Fredericks Foundation is a U.K. charity and Responsible Finance Provider that provides microloans and ongoing business support to people who are seeking to start or grow their own business but cannot obtain mainstream finance.

    Through the Women’s Loan Fund, the charity will provide loans of up to £10,000 for start-ups and follow-on loans of up to £35,000 to cash-poor women entrepreneurs.

    Duncan Parker, CEO at Fredericks Foundation comments:

    “We have created this special fund for women entrepreneurs who can’t access mainstream financing becauseof the lack of available finance given to female entrepreneurs, and the social impact of lending to women is greater. Their families and communities have higher chances of becoming successful and thrive when women achieve a reliable income.

    “Fredericks Foundation aims to help an increasing number of families and communities to move away from a life of financial dependency on benefits and empower them to increase confidence in their future, self-esteem and new skills.”

    Besides financial support, each entrepreneur will also benefit from specialist mentors who will guide and help borrowers to develop and grow their businesses.

    “The reality is that mainstream banks are unable to support funding for start-up businesses where the applicant has a poor credit history, or little or no track record in running a business. This can prove a seemingly insurmountable barrier to those seeking to obtain start-up finance. As a result, those who need the funding most are the least able to access it. This is where Fredericks comes in and enables people to become financially independent and valuable economic contributors to society through sustainable self-employment,” adds Duncan.


    About Fredericks

    Fredericks Foundation was founded in 2001 by Paul Barry-Walsh, a successful IT entrepreneur. In the years since, Fredericks has transformed the lives of thousands. Fredericks has given entrepreneurs – unattractive to high street banks – a hand up to start their own businesses, follow a dream, climb out of poverty, look after their families and become economic contributors to society.

    Fredericks Foundation has helped create over 1,600 companies and has granted loans of over £5 million.
     
    Posted: Oct 12, 2017 By: Peter kelly Member since: Sep 29, 2017
    #1