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Strengthening the ecosystem by creating a national loan program
The
Brief
School for Startups was commissioned by the UK government to launch a startup loan program to help aspiring young entrepreneurs start and grow their businesses.
S4S designed a nationwide program that is till in use today. The initial program, managed by S4S combined small loans ranging from $1,500 USD to $40,000 USD (in GBP) with training and one year’s mentorship to early stages businesses across all sectors.
The
activities
S4S marketed the program nationally, ran teaser events to create awareness across 12 cities, ran free one day seminars across England and Wales, developed the lending criteria and designed the financial safeguard system. S4S also created the risk level system so that government could modulate the amount it lent against a reliable risk level. S4S provided training across the country and mentored over 1,400 young entrepreneurs up to a year from the loan.
The
Result
Over a three year period S4S made over $20 Million USD of loans to over 1,500 startups. S4S also provided a years worth of mentoring and support to each entrepreneur. The program was so successful that the UK government still runs the program today under the name “The Startup Loans Program”