Linklaters
Helping Enterprising Londoners
What was the outcome?
A successful company was established called London Business Loans (Wholesale) Ltd which operates the Wholesale Loan Fund. The company is dedicated to helping London's most disadvantaged entrepreneurs. Created with private investment, it provides loans and advice for local small businesses to start up or grow. All loans come with a GLE oneLondon mentor who gives guidance over the first critical period of start up or expansion.
The structure that was created by Linklaters is 'evergreen'. The organisation will keep going by itself – as new businesses are funded by the interest repayments on the loans taken out by businesses already in the scheme. This is a great feature of a social enterprise project which fulfils the important aim of creating a system that will last into the future.