Small Firms Training Loan Scheme

What is it ?

A joint venture between the Department for Education and Employment (DfEE) and UK banks. Loans of between £500 and £125,000 are available to firms to pay for and encourage training within the business.

Who is eligible ?

Any sole trader, partnership, co-operative, franchise or limited company which is already trading or about to start trading and who have less than 50 employees.

What training is covered ?

An SFTL loan can be used to pay for any education or training course which will benefit the business whether it is full-time, part-time, open or distance learning. Funding is also available for initial consultancy costs relating to training.

Benefits of the scheme ?

The main benefit of the scheme is that the customer receives a Repayment Holiday at the beginning of the loan. During the period no capital or interest payments are due from the borrower while the government pays the interest on the loan direct to the bank.