Princes Initiative for Mature Enterprise
Princes Initiative for Mature Enterprise (PRIME) – business support loans for the over 50s
People over the age of 50 who wish to become self employed or set up their own business can apply for a loan of between £500 and £10,000 through the Prince’s Initiative for Mature Enterprise (PRIME) new loan scheme.
PRIME is a member of the Prince’s Charities group. It was set up on the personal initiative of HRH The Prince of Wales in response to letters he was receiving from people desperate to work but unable to find anyone to employ them because of their age.
To be eligible applicants need to be:
- over the age of 50;
- must be either unemployed (not in paid employment),
- facing redundancy (within the next six months) or be
- self- employed (but still in your first year); and must be a
- UK resident for at least three years.
The loans are for up to three years and the interest charged is 12% APR. Applications can be made at any time.
For further information, go to:
http://www.primebusinessclub.com/loans/prime-business-start-up-loan/
last updated on 6th July 2011