- Since launching in 2012, the Start Up Loans programme has delivered over 100,000 loans worth more than £941 million, to businesses across the UK
- Across the UK the economic impact of the loans is estimated to be more than £5.3 billion
- Leeds has 1,354 loans worth more than £13m
- 8,782 (9%) loans went to businesses in Yorkshire and Humber, worth £84 million
Start Up Loans, part of the British Business Bank, announces that its programme has facilitated over 100,000 loans worth more than £941 million to businesses throughout the UK. The figure marks a significant milestone for the programme since its creation in 2012.
In Yorkshire and Humber, 8,782 loans were delivered, making up 9% of the national picture and worth £84m. This included 1,354 loans in Leeds, worth £13m.
Of Yorkshire and Humber’s total loans, 39% have been to women and 12% to people from Black, Asian and Other Ethnic Minority backgrounds (not including White Minorities). Young people between 18-34 years old have received 14% of loans since 2012.
One such recipient of these loans is York-based Laughing Llama Coffee and Bistro, a family friendly coffee shop, which was among 12 small businesses to be selected as champions of UK start-ups by Start Up Loans, part of the British Business Bank.
Chantal Charles-Smith took out a £25,000 loan in April 2021 to launch Laughing Llama Coffee and Bistro.
Chantal said “As a parent of two young children, I knew first hand the difficulty of finding somewhere to take kids that is family friendly and serves good quality coffee.
“As such, I wanted my coffee shop to be a haven that both kids and adults would love, with a designated children’s area on the first floor with toys to keep children entertained and busy whilst parents get a welcomed break.”
Dr Sophie Dale-Black, UK Network Director for the North of England at the British Business Bank said: “The success of the Start Up Loans programme across the North is testament to the strength of the businesses across the region. With millions of loans dispersed across the North, it is proving to be an effective tool to address regional imbalances and access to finance. Yorkshire and Humber is a great hub of business growth and entrepreneurial drive, and I’m looking forward to working with more and more businesses from the region.”
Richard Bearman, Managing Director, Start Up Loans said: “Start Up Loans supports people across the UK who are looking to start their own businesses, and passing our one hundred thousand loan milestone is an amazing achievement that has been ten years in the making. We could not have achieved this without the dedicated support of our UK Network of delivery partners, and in-house team and I’d like to take this chance to thank them for everything they do to make our work possible.”
For more information on Start Up Loans please visit https://www.startuploans.co.uk/
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