Loan scheme helps 50,000 businesses

 Loan scheme helps 50,000 business

The government’s Start Up Loans scheme has helped 50,000 people to get a business off the ground over the past five years, official figures show. The initiative, which offers loans of up to £25,000 and a year"s free guidance provided to those setting up companies, has provided £345m of low-interest finance since it was established in 2012. However, the government expects overall losses from the scheme to be about 40%. Margot James, the small business minister, said that the scheme, was "removing barriers to finance".

Source: The Times (13/09)