Connect with us

Latest News

The Coventry and Warwickshire Reinvestment Trust (CWRT) has announced that it is opening up its Startup loans to companies nationally.

Published

on

Allison Evering

Allison Evering – Start-up loans officer at CWRT

Startup Loans applicants no longer need to attend CWRT’s Coventry offices for an interview, as applicants are now being interviewed over Skype if they are outside of the core Coventry, Warwickshire, West Midlands, Northants, Oxfordshire and Leicestershire regions.

Indeed, the Coventry based loan provider has helped Christopher Sekyere, from London, who received a CWRT Micro-Loan of £1,000 to help with his new sports company. Up & Coming Sports Ltd offers personalised strengthening and conditioning programs to young players in football. His work consists of assisting young players at all levels in their physical development.

As a delivery partner for the government backed Start-Up Loans company, CWRT has successfully funded over 100 start-ups in 2015, and is looking to match or beat that number in 2016, with its two main products – the new CWRT Micro-Loan and its existing Start Up Loan.

In the responsible finance provider’s efforts to expand nationally, it is already listed on Leicester and Northants county council websites to inform local businesses of the new avenue of funding.

CWRT’s new Micro-Loan product lends from £500 – £4,500 to start-ups seeking financial assistance for immediate needs, such as office equipment, marketing expenses or a website upgrade, while the Start Up Loan lends up to £25,000.

Allison Evering, new start-up loans officer at CWRT, explains: “We have grown our team and now want to help more companies to realise their dreams. I am especially interested in supporting more black and ethnic minority and female run businesses. We offer a real alternative for companies that are unable to access mainstream finance. Our loans are part of our national start-ups initiative and we are looking to attract more companies wherever they are.”

While there are many uses of CWRT loans, they have successfully been used in conjunction with grants, so providing the match funding often necessary to gain free grant funding.

 The CWRT Micro-Loan and Start Up loan are available to anyone over the age of 18, owning a UK business. The loan itself can be spread over a 1 to 5 year period with a competitive fixed interest rate of 6%.  There are no administration or early repayment fees, so for businesses proving to be even more successful than anticipated it can be paid off much more quickly.

CWRT is a not-for-profit specialist finance provider committed to supporting businesses and individuals based in Coventry and Warwickshire. It provides flexible and competitive finance designed to meet the needs of entrepreneurs and businesses from the Coventry & Warwickshire area who are unable to obtain loans from mainstream sources of finance.

Advertisement

CWRT understands that obtaining business finance can sometimes be a challenge. The lack of a track record, unreasonable security arrangements, past financial problems or simply not meeting conventional credit scoring methods may raise barriers to obtaining funding.

Since 2004, after receiving funding from various organisations including the European Regional Development Fund, Coventry City Council, RGN Rural/ WCC Urban programme, Warwickshire County Council, CWLEP Growing Places and the Start Up Loans Company, CWRT has loaned nearly £5 million to start-up and existing businesses in Coventry and Warwickshire that have had difficulty in raising finance elsewhere.

If you find this article on CWRT reinvestment trust helpful, Click here To find out more about CWRT Micro-Loans. And remember to share this information to those that need it.

Continue Reading
Advertisement
Comments
Advertisement
Advertisement Submit

TechAnnouncer On Facebook

Advertisement
Al Kingsley, CEO of the NetSupport Group Al Kingsley, CEO of the NetSupport Group
Business Technology2 weeks ago

The Business Cost of a Missed Message

Business leaders depend on emails and direct messages to deliver the information that keeps our teams advancing toward critical goals....

Right Airbnb Management Company Right Airbnb Management Company
Real Estate Technology3 weeks ago

How to Choose the Right Airbnb Management Company

Running a successful Airbnb property requires a lot of effort and time, which is why many hosts turn to Airbnb...

A Review of the Shure SM7B Microphone A Review of the Shure SM7B Microphone
Tech Reviews1 month ago

Unleashing the Power of Sound: A Review of the Shure SM7B Microphone

The Shure SM7B microphone has made waves in the audio world, becoming a favorite among podcasters, musicians, and broadcasters alike....

Pocket Cinema Camera 6K Pro Pocket Cinema Camera 6K Pro
Tech Gadgets1 month ago

Capturing Magic: A Review of the Blackmagic Pocket Cinema Camera 6K Pro

The Blackmagic Pocket Cinema Camera 6K Pro is a game-changer for filmmakers and content creators. With its impressive features and...

Apple 2023 MacBook Air Apple 2023 MacBook Air
Tech Reviews1 month ago

Unleashing Power: A Review of the Apple 2023 MacBook Air with M2 Chip

The Apple 2023 MacBook Air with M2 chip is a sleek and powerful laptop that has captured the attention of...

BTC staking campaign BTC staking campaign
Bitcoin1 month ago

Exploring pSTAKE’s edge within Binance’s latest BTC staking campaign

Recently, Binance launched its latest BTC Staking on Babylon Campaign, inviting users to participate in an exciting opportunity to earn...

The 2022 Apple MacBook Air with M2 chip The 2022 Apple MacBook Air with M2 chip
Electronics1 month ago

Apple MacBook Air: A Student’s Best Friend

The 2022 Apple MacBook Air with M2 chip has quickly become a favorite among students and professionals alike. With its...

DJI Avata 2 DJI Avata 2
Drones Technology1 month ago

Experience the Sky Like Never Before with the DJI Avata 2

Flying the DJI Avata 2 Fly More Combo is an exhilarating experience that takes you to new heights. This FPV...

Sony Alpha 7 IV: A Comprehensive Review Sony Alpha 7 IV: A Comprehensive Review
Tech Reviews1 month ago

Unleashing Creativity with the Sony Alpha 7 IV: A Comprehensive Review

The Sony Alpha 7 IV is a remarkable camera that has captured the attention of both amateur and professional photographers...

Market Turmoil: Iran's Missile Attack on Israel Sends Stocks Down Market Turmoil: Iran's Missile Attack on Israel Sends Stocks Down
Trending Technology1 month ago

Market Turmoil: Iran’s Missile Attack on Israel Sends Stocks Down

U.S. stock markets experienced a significant downturn on October 1, 2024, following Iran’s missile strikes on Israel, which escalated geopolitical...

Advertisement
Advertisement Submit

Trending

Pin It on Pinterest

Share This