Vincent Efferoth and Lukas Passia from Noveltea, just one of the successful business to have received a Virgin Startup loan with support from Tedco
Carole White, chief executive of TEDCO Business Support, explains how companies can access loans from Virgin start-up.
TEDCO is one of the most-established names in start-up and early-stage business support and, in the past three years, has helped more than 450 new and existing businesses in the North East of England access the right kind of funding to get business ideas moving.
The team of skilled TEDCO business advisors has the knowledge and contacts to put entrepreneurs in the frame for funding through a combination of government programmes, investment groups and private financing and support new ventures to set up and grow with the capital to succeed.
TEDCO Business Support is the exclusive North East delivery partner for the Virgin StartUp programme offering government-backed, low-cost business loans for entrepreneurs in the UK. North East businesses are one of the biggest beneficiaries of Virgin Start-up loans with more than £3.5m received in the region over the past three years via delivery partner, TEDCO Business Support.
Carole White, chief executive of TEDCO Business Support says: “Since day one of the programme, TEDCO has worked very closely with Virgin StartUp to ensure enterprising individuals in the North East have access to financing options to take a new venture from idea to fully-functioning business.
“The low-cost business loans can start from as little as £3,000 all the way up to £25,000 and the programme has proved very popular with fledgling firms operating in a number of different sectors. From funding new machinery to financing marketing campaigns or even creating bespoke IT infrastructure, access to financing can be the very lifeblood of the success of any new business.
“Of course Virgin StartUp is so much more than a low-cost business loan, the added value involved with being associated with the Virgin brand can bring untold benefits to new ventures. We have had clients pitching to Sir Richard Branson, being promoted by Virgin online and invited to be part of Virgin events throughout the UK.
“With the added support of our investment readiness programme, Start and Grow, TEDCO is helping to develop the business dreams of hundreds of entrepreneurs throughout the region thanks to our skilled advisors and their countless years of experience supporting new businesses to access the right finance for their business.”
Start and Grow is a national programme, delivered in the North East by TEDCO, to help new businesses receive the initial one-to-one mentoring and support required to develop ideas into thriving businesses. One of the main objectives of the programme is to help businesses become investment ready by assisting entrepreneurs in their goals to access private financing.
White continues: “Access to private financing has always been one of the most difficult parts of setting up a new business and can be a somewhat arduous and drawn out process for many looking to start up on their own. Through the Start and Grow programme, new businesses work directly with an assigned TEDCO business advisor who can guide individuals through the search and application process to find the most appropriate sources of funding.
“Our objective is always to provide the best level of support we can for any business to ensure their enterprise can thrive and expand and that often means picking through every facet of their business plan and launch strategy to ensure they are in the right position for success.”
For more information on routes to finance for new or expanding businesses please contact TEDCO Business Support on 0191 516 6102 / www.tedco.org.