Virgin Money has partnered with Virgin Unite, The Northern Rock Foundation and Project North East to form a consortium in the delivery of Start-Up Loans with Project North East being the consortium partner responsible for arranging and making the loan. The consortium was joined today by a group of distinguished guests from across the region to officially launch the scheme. Guests included regional MPs, business heads and community group leaders.
The loans are aimed at young entrepreneurs aged between 18 and 24 based in the North East and Cumbria, with plans to widen the age range and location at a later date. There have been around 450 initial enquiries so far, with a boom expected following todays official public launch.
This is fantastic news for the region and a great opportunity for any young person with a brilliant business idea. This scheme gives access to start-up funding, at a time when it might otherwise be difficult, and will allow successful applicants to take those all-important first steps into the world of business, commented Jayne-Anne Gadhia, CEO of Virgin Money.
Id encourage anyone between 18 and 24 who is sitting on a great business idea to take a serious look at this scheme and to get in touch with Project North East and present their business plan. This could be the start of something really exciting for them.
Virgin staff were also joined by Newcastle united players Fabio Coloccini and Shane Ferguson, who helped launch the initiative.
To find out more, head over to the Start Up Loans website.