Local Businesses Offered Loan Hope

Fri, 29 Feb 2008

A new local lottery is to help small businesses in Goole, North Humberside, receive start up finance .

Organisers of the Goole &District Lottery said the aim of the project is to help generate money that can be put back into the area to help local good causes and create employment in the district.

The idea by Goole Development Trust was inspired by similar schemes set up in Pembrokeshire, Carmarthen and the Isle of Wight.

Once the prize money and operating costs have been paid out, 85 per cent of the proceeds will go into a Loan Fund and 15 per cent into a Community Fund, which will help fund grants to community groups, organisations and individuals.

Small businesses in and around Goole that are unable to receive necessary funding from normal sources, such as high street lenders, will have access to the Loan Fund .

They will be offered interest-free loans of up to £10,000 to start, grow and develop their businesses, which can then be used to generate new jobs, profits and prosperity in the Goole area.

The loans will be for a period of up to three years and businesses will also have the option of taking up a repayment holiday of up to six months at the start of the loan .

Lottery players can sign up to take part at any time, for a minimum of £1 per week.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page



 

Business Newsletter

Please enter your email below and subscribe to our monthly newsletter

Reduce mortgage paymentsSave on Your Mortgage

Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.

Health InsuranceProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.