Start-Up Loans scheme should be extended to the under 50s
The age group eligible for the government's startup funding scheme is likely to be extended, it has been revealed.
Launched last year, the Start-Up Loans initiative provides finance to business owners aged 18-30. The average loan is £4,500. So far, £10m in pilot funding has been lent to 2,000 entrepreneurs.
It was originally aimed at entrepreneurs in England aged 18-24 and was then extended to the under 30s.
According to a tweet today by StartUp Britain, the campaign group that was heavily involved in setting up the project, the under 50s could soon be able to apply.
StartUp Britain (@startupbritain) March 25, 2013
BusinessZone.co.uk has contacted the Start-Up Loans Company to confirm the development. We are waiting for a response.
The Start-Up Loans Company has responded to our query. A spokesperson said the tweet by StartUp Britain was "not accurate". It has since been deleted.
Former Dragons' Den judge Doug Richard, who runs School for Startups, a Start-Up Loans delivery partner, has called for the age limit to be completely removed.