The Sir Thomas White Loan Charity (STWLC) has awarded its largest quarterly loan amount in over 10 years, with £171,000 to be delivered in interest-free loans to 14 Leicestershire businesses, and £11,500 awarded in interest-free education loans to support postgraduate studies.

In total, 16 loans were approved this quarter, totalling £182,500.

This represents the largest business loan total approved by the charity in a single quarter in over a decade – and is also the largest overall total for a quarter in over 10 years.

Among the 14 Leicestershire businesses to receive interest-free loans this quarter are an optician, landscape gardener, creative agency, make-up artist and videographer.

Meanwhile, the two education loans will help individuals to study postgraduate courses in Camera, Sound & Vision Mixing in TV production and an MSC in Economics and Finance.

Established in 1542, STWLC hosts quarterly application windows each year in which people aged over 18 and under 45 can apply for unique interest-free loans of up to £20,000 to aid local businesses, or £10,000 to support students wishing to return to postgraduate education. The charity’s loans are interest-free for nine years, and become repayable by equal instalments after three years.

Lucy Womack, chair of STWLC, said: “All I can say is, wow! To have approved our largest quarterly loan amount in over a decade is incredible news for the charity and we’re absolutely thrilled to be expanding our support to so many across Leicestershire & Rutland.

“The number of applications we received was fantastic, but it was the high quality of these applications and business plans which was most pleasing to see, and this is the reason why we were able to approve such a large allocation.

“Our offer is unique, and it sometimes sounds too good to be true, but these businesses and individuals will be seeing first-hand how valuable an interest-free loan can be for a start-up, an existing business, or when returning to university.

“If you could benefit from an interest-free business loan up to £20,000, or an education loan up to £10,000 to support with tuition and living costs, please visit our website to find out more. The worst we can say is no, but the chances are, we’ll say yes!”

The next deadline for applications is 3.30pm on Monday 3 July 2023.