Financial grant (rather than loan) funding for individuals on Universal Credit with a developed business plan who want to pursue self-employment, and have a business concept that would lead to additional employment in the town.
Universal Credit claimants are NOT in a position to repay loan financing, and are usually dismissed outright by reputable lenders in any case. However, it is impossible to get a viable business going on Universal Credit in the 12mths permitted before the minimum income floor is applied, especially if you have no savings, no access to credit cards, etc.
With employer after employer closing down in the town, and the cost of public transport rising year on year, despite increasing inefficiency, a claimant who is either medically banned from driving, or unable to afford to run their own transport, with a business idea, is effectively trapped in poverty – the employment isn’t there, and, without finance, getting a business off the ground is impossible.
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