Scheme has given £25m in loans in Hampshire and South East

Start Up Loans, a government-backed scheme, has announced the milestone.

The loans have helped aspiring entrepreneurs across the South East, with more than 12,200 taking advantage since its inception.

The total funding amounts to more than £130m, with an average loan value of £10,690.

READ MORE: Accountancy firm pledges support to Winchester theatre charity

Portsmouth is a particular hotspot for entrepreneurship, with the highest number of loans given to businesses in Portsmouth South.

Female-led start-ups made up 37 per cent of the total loans issued in Hampshire.

One example of entrepreneurial success in Hampshire is Sam Hopkins, who founded New Forest Skate Hub.

Mr Hopkins said: “Turning my love for skateboarding into my work has been incredibly rewarding. The finance and support were vital to me being able to purchase the necessary equipment to turn my passion into a business.”

Louise McCoy, commercial managing director, small business lending at the British Business Bank, said: “Reaching the £25m milestone in loans to entrepreneurs in Hampshire is a testament to the diverse and vibrant business landscape of the region.

“Each Start Up Loan represents a story of ambition and we’re proud to support founders like Sam in turning their business dreams into reality.”

Image Credits and Reference: https://www.hampshirechronicle.co.uk/news/24848130.scheme-given-25m-loans-hampshire-south-east/?ref=rss