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Newable selected as national delivery partner for The Start Up Loans Company PDF Print E-mail
Friday, 06 January 2017
Newable, the business consultancy working to increase confidence amongst businessmen and women, has been selected as the national delivery partner for The Start Up Loans Company. This will see Newable help around 5,000 individuals – who may have previously been turned down by mainstream lenders - start their own business over the course of the next two years through the Department for Work and Pensions’ New Enterprise Allowance (NEA) scheme.

Individuals participating in the NEA scheme are eligible to apply for a loan for up to £2,500 to assist with their start-up costs. Newable will therefore work with The Start Up Loans Company to ensure their business proposition is finance-ready, so that applicants can move away from benefits and towards establishing their own business instead.

Newable will also mentor applicants on their self-employment journey by assessing their business plans and cash flow forecasts for finance readiness and affordability in order to for them to responsibly access a Start Up Loan.

Chris Manson, CEO of Newable, said: “Newable’s purpose is to help people start up, sustain and scale their businesses and the relationship with the Start Up Loans Company is a vital part of this. Having delivered the NEA loan service locally on behalf of DwP and The Start Up Loans Company since 2012, this assignment is a ringing endorsement of the great team we have working on this project and we’re now looking forward to working with The Start Up Loans Company on a national scale.”

Joanna Hill, Chief Commercial Officer of SULCo, commented: “We were extremely impressed by the quality of Newable’s tender, as well as its track record and commercial proposition. We look forward to continuing our close partnership working with Newable and helping to support even more new start up businesses.”
 

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