For businesses, about to trade or
already trading, with up to 50 employees.
amount:
£500-£125,000.
other:
To be used for:
Vocational education / training of
staff.
Up to 90% of cost of consultancy on
training matters (up to £5,000).
Details:
SFTL are available through
the Department for Education
and Employment (DfEE) and eight
major banks (Barclays, HSBC,
Lloyds TSB, Natwest, Bank of
Scotland, Clydesdale, Co-operative
and Royal Bank of Scotland).
The scheme helps businesses
with up to 50 employees pay
for vocational education or
training, by offering loans
on deferred repayment terms.
Firms can borrow between £500
and £125,000 to cover
education and training costs
and subject to a maximum loan
of £5,000, up to 90% of
the cost of consultancy advice
on training matters.
There is nothing to pay for
between 6-12 months of training,
according to the amount of the
loan. The DfEE pays the interest
for this period.
Loans are repayable over a
minimum period of one year and
up to a maximum of seven years.
Interest rates may be fixed
or variable.
Any education or training course
is eligible as long as small
firms can show that it will
help them achieve their business
objectives.
Firms eligible to apply are
sole traders, partnerships,
co-operatives, franchises or
limited companies already trading
or about to trade.
Applications must be endorsed
by the local TEC / LEC before
they are submitted to the bank
if the loan is over £15,000
and / or you are applying to
a bank other than the bank which
holds your main business accounts.
An information pack and application
form can be obtained from the
Web site or by calling the Freephone
number.
Contact:
Links:
Most of this information
was sourced from the DTI publication
: A Guide to Help for Small Business,
(URN 99/1112)
Further Information.
Every effort has been made to ensure
that the information on this page, is accurate, but no legal
responsibility can be accepted for any errors or omissions.
Most of this information was sourced
from the DTI publication : A Guide to Help for Small Business,
(URN 99/1112). This can be ordered from the DTI Web site:
Or from:
DTI Publications Orderline
Admail 528
LONDON
SW1W 8YT
T. (0870) 1502 500
F. (0870) 1502 333
Textphone: (0870) 1502 100
