Loan for Young Entrepreneurs to Start Up Their Business
Government’s StartUp Loan initiative has several parts and The Acorn Fund as a part of this will offer financial support to start a business for young entrepreneurs aged between 18 and 24. This new plan is quite helpful for young entrepreneurs with innovative business ideas to shape up their future. This new start up loan will launch tomorrow.
This is latest idea to help young unemployed to make a financial start. Manager at Acorn Fund, Peter Sykes say that in current recession people fresh young people are unable to arrange a job of their choice, majority of people are even not getting an interview opportunity and this represents a vast opportunity to change business ideas into commercial enterprise. Now with availability of specific fund and support, young people can make a new start. Mr. Sykes is also responsible to administer the Government’s start-up loan programs in the Humber region.
An individual can access maximum of £2500 cash with suitable repayment terms that suits to individual circumstances. The success of John Cracknell youth enterprise bank has become successful by offering similar cash advances and Acorn Fund has followed the same. The former bank offers grants and practical support of up to £1000 for 13 to 21 years old who were looking for help to setup or develop their businesses. Such financial help enable several youngsters across the region to set up their own business. Acorn Fund is hoping to have the same business.
Luke Hills, 18 years and Jonny Cowing, 16 years have got benefitted with the new idea of loans to youngsters. They have passion for cricket and they changed their passion into business after receiving funds from John Cracknell youth enterprise bank. They opened Core Cricket academy and now making money through their business. Individuals looking for business loans may also go for alternative options like log book loans even if you have bad credit.