Freedom Finance believes the partnership proposition will lead to more loan approvals
Freedom Finance believes the partnership proposition will lead to more loan approvals.
Austen Shakespeare

Ex-emergency workers to receive extra support to help fund startups

London-based X-Emergency Services (X-ES) has partnered with Start Up Loans to help emergency workers transition from public service to private enterprise.

X-ES offers advice, mentoring and funding, via Start up Loans, to people leaving the police, firefighting, or paramedic services.

According to X-ES the funding is crucial, as 17,000 service personnel leave their respective services each year.

X-ES CEO Ren Kapur explained: “Emergency service personnel at all levels have many transferable skills including discipline, determination and resolving difficult situations under pressure, which are extremely attractive to business.

“But they need clear pathways and signposting so they can take advantage of the support and opportunities which are out there.”

Ex-police officer Alex Habachi, a client of X-ES, said: “I went through the government Start Up Loans programme and was put in touch with X-ES to get a start up loan. I had a lot of support from the team in drawing up the business plan, financial models, and licenses. When the money came in, X-ES were still there to call on for support.”

The government backed Start Up Loan scheme offers 6 per cent loans ranging from £500 to £25k for prospective entrepreneurs looking for capital.

The scheme is also part of the Sheffield-headquartered British Business Bank.

In the financial year 2020/21, the programme provided 11,336 loans with a total value of approximately £137.6m.

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