Female founders from the East Midlands are paving the way when it comes to securing start up loans, according to the latest figures from the British Business Bank’s Start Up Loans programme.
Since its launch in 2012, the Start Up Loans programme has backed entrepreneurs from across the East Midlands with £75m of funding. Of that, 3,000 loans totaling more than £28m – 40% of the total – have supported female business owners.
From equestrian training services to physiotherapists, lingerie for cancer survivors to SEND support – alongside many more high street stores and services – the region’s female founders are bringing their business visions to life.
Louise McCoy, Managing Director, Start Up Loans Products at the British Business Bank, said: “The British Business Bank is committed to supporting entrepreneurs from underrepresented groups across the UK.
“These figures demonstrate how, with the backing of the Start Up Loans programme, female founders from the East Midlands are making their dreams a reality and building their own firms from scratch.
“Being able to support the region’s entrepreneurs with £75 million of Start Up Loans since 2012 demonstrates just how much ambition and potential the East Midlands has. We look forward to helping many more who might be thinking about starting their own business.”
As well as supporting an above-average number of female founders, the East Midlands is also supporting young entrepreneurs. Since the programme started, 16% of borrowers were aged 18-24, and within this group 38% were not in education, employment or training (NEET). The average across the UK is 13%.
Daniel Carrico, Executive Director at First Enterprise, a Start Up Loans programme business support partner, said: “We’ve seen firsthand how access to finance, mentoring, and guidance can empower individuals, especially for those who have been historically underrepresented or excluded from traditional funding routes.
“The £75m is a brilliant milestone, but so too is the £28m delivered to female founders in the region. This achievement highlights the region’s entrepreneurial spirit and reinforces our commitment to supporting inclusive, sustainable growth across every community we serve.”
Since its inception, the Start Up Loans programme has delivered more than 125,000 loans to business owners across the UK, amounting to more than £1.3bn of funding.
