Fredericks Foundation

 Financial Advisor / Posted 1 month ago by Katy Murray / 53 views

Fredericks 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 is open to anyone who has a viable business proposition, but cannot obtain mainstream finance. Fredericks operates across England and Wales with a support team on hand to help and guide applicants all the way through the process. The support continues even after the applicant has been successful in the form of mentoring, practical business advice, networking and links within the local community that can help support and grow new and expanding businesses.

Our Women’s Loan Fund:

Our aim is to build a £2 million fund to enable us to provide loans to women with a viable business plan who have been turned down by conventional lenders.

Although their numbers have increased, women are still under-represented in enterprise. Moreover, women often have responsibilities that make traditional employment difficult, especially if under zero-hours contracts.

In 2016 in the UK, lone parents with dependent children represented 25% of all families with dependent children, and women account for 91% of lone parents. Many women are also carers for elderly, sick or disabled family members.  For some of these women, self-employment represents the best or only opportunity to work.

Why focus on women?

  • Women are at least 14 times more likely to live in poverty and less likely to qualify for full time paid employment.

    • Reasons include maternity leave, childcare costs, disproportionate care responsibilities, culture and discrimination.

  • Social impact of lending to women is greater.

    • When you focus on the woman, the family and community are impacted in a greater way.

    • The social impact of lending to women with children is multiplied by the number of children who benefit from their income.

  • Women tend to be more reliable borrowers but are more reluctant to take on debt.

    • Repayment rate has been higher among our female borrowers.

    • Focusing on women will enhance our efforts to find new female borrowers.

  • Women are underrepresented in the business community and in our client base.

    • Women account for only 17% of business owners in the UK.

    • Less than 40% of our loans to date have been to women.

Why Fredericks?

  • We have experience with the target groups for the Women’s Loan Fund.

  • We have a pipeline of women who need our support.

  • 20% of our loans are to single mothers.

  • 42% of our loans to women are in migrant communities & ethnic minorities.

  • 11% of our loans are to women with disabilities.

Contact details

Fredericks House 39 Guildford Road Lightwater SurreyWoking,GU18 5SA Show Phone Number ***** http://www.fredericksfoundation.org

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