For those wishing to start-up a new business or develop an existing one, assistance may be available. However, the trustees do not invest directly in businesses run by Beneficiaries.

Applications for financial assistance, by way of a loan (interest bearing) may be considered by the trustees in the following circumstances:

  • where other funding options, such as Government grants for business development, start-up loans, bank loans etc., are not available
  • there is a credible business plan for the business you are intending to start or develop.

Guidance notes for applicants

Please read the following information carefully before you proceed with an application.

You will be required to provide the following information with your loan application. 

  • Details of other sources of finance, personal investment and an explanation as to why sufficient funding is not available from other sources.
  • A credible business plan and cash flow forecast for the first year for the start-up or business development idea will need to be provided with a grant application form.
  • For Business Development Applications,  the previous three years P&L accounts will also be required.

If requested by the trustees you may need to commission an independent review of your business plans, to demonstrate its robustness for the benefit of the trustees. This will need to be carried out by an independent, qualified accountant and include the following:

  • professional and thorough review of your business plan
  • an understanding of the offer of your business and the market need for this
  • an understanding of sales forecasts, anticipated costs, cash flow, and growth projections you have identified and how these have been determined
  • a view on what contingencies are available if the sales projected are not realised
  • a professional view on whether or not the business proposition is commercially sound.

Depending on the circumstances, the trustees may consider a grant towards the cost of the review.

Application form

If you wish to apply for a loan, you can download the printable application form by clicking this link. Business Start-up or Development Application Form

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