Fredericks Foundation – Providing Loans to Those Who are Marginalised

Fredericks Foundation is a Responsible Finance Provider that provides loans to people who want to set up a new business or maintain or expand an existing business. Fredericks Foundation is a registered charity, founded in 2001 by Paul Barry-Walsh, Fredericks helps those most marginalised such as the long-term unemployed, people with disabilities, ex-offenders, single parents and ethnic minorities.

Fredericks Foundation’s mission is to provide access to small business loans to people excluded from mainstream credit in order to create choice not charity, and to give individuals the opportunity to transform their lives, and to build a society based on dignity not on hand-outs.

Fredericks has provided loans totalling over £5 million to over 1,500 businesses. The loans are funded by a variety of sources including private donations, donors via Community Foundations, donations from private bodies and Trust funds, funds contributed under the Community Investment Tax Relief scheme (CITR), and general fund raising projects, etc.

“Without Fredericks Foundation, the future of our business wouldn’t be as bright as it is today. We were between a rock and a hard place, we had no money to continue trading but we needed to continue trading to earn money. Now we can not only focus on staying open, we can focus on growing and that’s an exciting prospect. Fredericks has given us our bright future back.” – Client Review

Fredericks Foundation have recently Launched a  £2 Million Fund for Women Entrepreneurs

On 27 September, 2017, Fredericks Foundation has launched a £2 million fund available to disadvantaged women with a viable business plan who want to launch a new business or need support to develop an existing one.

Through the Women’s Loan Fund, the charity will provide loans of up to £10,000 for start-ups and follow-on loans of up to £35,000 to cash-poor women entrepreneurs.

Duncan Parker, CEO at Fredericks Foundation comments:

“We have created this special fund for women entrepreneurs who can’t access mainstream financing because of the lack of available finance given to female entrepreneurs, and the social impact of lending to women is greater. Their families and communities have higher chances of becoming successful and thrive when women achieve a reliable income.

Besides financial support, each entrepreneur will also benefit from specialist mentors who will guide and help borrowers to develop and grow their businesses.

The reality is that mainstream banks are unable to support funding for start-up businesses where the applicant has a poor credit history, or little or no track record in running a business. This can prove a seemingly insurmountable barrier to those seeking to obtain start-up finance. As a result, those who need the funding most are the least able to access it. This is where Fredericks comes in and enables people to become financially independent and valuable economic contributors to society through sustainable self-employment.”

Fredericks Foundation

For more information please visit www.fredericksfoundation.org

For more information on the Woman’s Loan Fund, please visit www.fredericksfoundation.org/the-womens-fund

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