East Yorkshire-based businesses offered Start-Up loan scheme

The survival of start-up businesses in the Humber have just been given a lifeline as loans of £1,000 to £25,000 are now available through the Government supported Start-Up Loans scheme.

New businesses in the region in Hull, East Yorkshire (including Scarborough) and north and north-east Lincolnshire, as well as those that have been operational for less than two years, can now have access to a Start-Up Loan.

Since the Start-Up Loans scheme was introduced by the Chamber Acorn Fund in 2013, funding assistance has been given to more than 220 businesses, 17 of which have had the full £25,000 at a rate of 6% per annum.

The scheme - created by Lord Young of Graffham, the Enterprise Advisor to David Cameron - is available to anyone over the age of 18, who is a resident in the UK with a valid visa for the full period of the loan, and with a practical business project, or a business younger than 24 months.

Craig Simpson, contracts manager at the Acorn Chamber Fund on Beverley Road, Hull, said: “Any business sector can get this, it is not linked to job creation and we offer free business mentoring to help you get started.

“The variety of businesses we have worked with is vast, from chimney sweeps to Internet application development and everything in between.”

Hull local Mally Welburn presented the concept of a land train tour of the historic buildings in Hull’s Old Town whilst taking visitors to and from the city centre to the Deep.

Mr Simpson added: “With the help of a Start Up loan the Hull Land Train venture has quickly become a significant success and has attracted further local investment,” said Craig.”

Two experienced scaffolders from North Lincolnshire, Gordon Ogilvie and Paul Woods, have also successfully set up their own business using the Start-Up loan programme.

Mr Simpson further commented: “After a relatively short period Clearview Scaffolding has gained lucrative contracts and is well on the way to achieving their target of having 10 staff.”